Standard Mortgage Blog

While it is most common to get pre-approved, shop for a home, and apply for an original mortgage, in some cases, a homebuyer can assume a homeowner’s mortgage balance and take possession of the property. This is known as an assumable mortgage.

An assumable mortgage allows you to find a house that you want to buy and take over the seller’s existing loan without applying for a mortgage of your..

A major decision that requires great thought and preparation is buying a home. You can find houses throughout the whole year, however, seasonality may affect prices and the number of homes on the market. You may have a life event that requires you to purchase a new house quickly however, if you are not in a rush to purchase your home you may want to factor in seasonality and the time of year you..

For most people, a mortgage payment is likely their biggest monthly expense. By paying off your mortgage faster you can save thousands of dollars in interest over the life of the loan. While bi-weekly payments are one popular way to pay off a mortgage more quickly, there are other strategies you can use to achieve similar results as a bi-weekly payment