Articles by Christy Rakoczy:
Patch Homes provides an alternative, debt-free approach to the standard home equity loan by offering a shared equity loan or shared appreciation mortgage. You won’t pay an interest rate but will pay the loan back by sharing profits from real estate appreciation.
If you are buying a more expensive home, you will need to take out a larger mortgage. Mortgages above a certain dollar amount are considered jumbo mortgage loans. The dollar amount that dictates which loans are jumbo loans varies in different parts of the country.
A VA mortgage is backed by the U.S. Department of Veterans Affairs. These home loans have easier qualifying requirements for eligible military members and veterans. VA loan rates can change over time and your own situation can affect the rates you’re offered.
A 5/1 ARM is an adjustable-rate mortgage. The rate remains the same for five years and can then move up or down once per year. Our picks for the best 5/1 adjustable-rate mortgages include Better, New American, SoFi, Guaranteed Rate, and Rocket Mortgage.
If you cancel a whole life insurance policy when you haven't had it for very long, you face surrender fees and may not get any of your policy's cash value. If you've been covered for longer, you have options that may allow you to take the cash value, keep the death benefit, or both.