BUYER'S GUIDE GET FINANCING Mortgage Basics Mortgages are probably the most crucial piece to buying, selling, or just plain owning a home. And, honestly, they are not as hard to understand as you might think. You can benefit from the experience of others who have mortgages (which is just about everybody you know), and with a little homework, you can make the best financial decisions. 1.) What is a mortgage? It's pretty simple: A mortgage is a loan, with your house and land us

The Lowdown on Down Payments Since the 2008 recession, many changes have occurred in the home buying and mortgage industries, including requirements regarding down payments. All segments of the home mortgage industry have seen significant tightening of lending standards, and, in general, home buyers looking to use a conventional mortgage product can expect to need 10 to 25 percent of the home’s sale price as a down payment. Government loans can still be secured for significan