Housing

Home Equity Line of Credit Calculator

You might’ve heard others talk about borrowing against the equity in their homes. Your home equity is the difference between the fair market value of your house and what you still owe on your home. For example, if your home is valued at $200,000 and you owe the mortgage company $175,000, your home equity would […]

  • Jul 15, 2015

Mortgage Tax Savings Calculator

Home ownership comes with many advantages, including tax benefits. If you itemize deductions on your federal income tax return, you can deduct the interest on your mortgage. The savings can be significant. Of course, you should consult a tax professional about deductions, but our Mortgage Tax Savings Calculator can help you get an idea of […]

  • Jun 15, 2015

Rent vs. Buy a Home Calculator

Is it always a waste of money to rent if you can afford to buy a home instead? Is buying a home the right housing move for everyone? Many factors can influence the decision to buy a house or continue renting, and you should weigh them all carefully before making a choice. Our Home Option […]

  • Jun 01, 2015

Mortgage Refinance Calculator

If you first got your home mortgage when interest rates were high — or at least higher than they are right now — you might be considering refinancing to secure a lower interest rate. Will refinancing reduce your monthly mortgage payment and/or save you money over the life of the loan? Our Mortgage Refinance Calculator […]

  • May 15, 2015

Moving? Check Your Credit Report First

Your credit picture shouldn’t be a mystery as you change up your living situation. Be armed with current knowledge about your report information and scores.

  • May 06, 2015

How Much House Can I Afford? (Calculator)

No one wants to hear “no” from a mortgage company, or wind up with a mortgage payment they’ll struggle with each month. Mortgage companies consider income, assets, down payment, current debts (like auto loans and credit cards), property taxes, insurance and your credit rating. Our Home Affordability Calculator can help you understand how much you […]

  • May 01, 2015

Fixed vs. Adjustable Rate Mortgage (ARM) Calculator

It’s one of the great mortgage questions every homebuyer must ponder — do you go for a fixed-rate loan or an adjustable-rate mortgage (ARM)? Your choice can affect not only the total amount of mortgage interest you pay over the life of the loan, but your monthly mortgage payment and your ability to make that […]

  • Apr 30, 2015

How Long Will a Paid-Off Mortgage Appear on Your Credit Report?

Whether you’re in the position to pay off your mortgage today, or you’re wondering what will happen when you’re eventually able to hold your house debt-free, someday you might not owe anything on your house anymore. When that happens, it will likely have a long-lasting impact on your credit. The Lifespan of Your Mortgage Your […]

  • Mar 13, 2015

Loan Comparisons

Although credit scoring models have been updated in recent years to accommodate for the loan comparisons that any prudent borrower does before taking out a loan, it’s still a good idea to avoid adding lots of unnecessary inquiries to your credit report. Loan comparison shopping may take some persistence on your part, because lenders are often […]

  • Mar 12, 2015

Loan Interest Rates

Because not all loans carry equal interest, free wants you to understand exactly what you’re paying for credit, particularly since uninformed decisions can lead to financial jeopardy. A loan interest rate of 1.5 percent per month may seem reasonable enough, but a consumer needs to know the APR before he or she can compare lenders. […]

  • Mar 09, 2015

How Can a Trial Loan Modification Affect Your Credit Score?

Most Americans spend roughly 30 percent or more of their take-home pay on their mortgage payment, leaving many homeowners trying to avoid foreclosure and credit damage. However, it´s important to understand that a mortgage modification has its share of risks, too. Before you assume your credit is free and clear of taking a hit, discover how […]

  • Mar 02, 2015

Closing Costs Calculator and Loan Comparison

Every home purchase involves closing costs that are usually the responsibility of the buyer. These are expenses, above the agreed-upon sale price of the home, associated with finalizing the purchase of a house. They can include mortgage-origination fees, inspection costs, appraisal and survey fees, title search and title insurance fees, escrow deposit and attorney fees. […]

  • Jan 05, 2015

Build Your Credit While Waiting for the Right Time to Buy

There are a number of reasons why you might be waiting for the right time to buy your first home. But if it’s because you don’t have enough information to create a credit score yet, and you’re currently renting, there may be good news. A new study conducted by Experian RentBureau shows that, for some […]

  • Sep 10, 2014