Mortgage Basics: 10 Common Questions on Mortgages

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Help for First-Time Home Buyers

Help for First-Time Home BuyersWhile it can appear overwhelming, at its core, the home mortgage process is actually pretty simple: you’re borrowing a large sum of money and your lender wants to make sure you’re good for it.

Still, there’s a lot that goes on in the course of getting a home loan and it’s common for first-time buyers to feel like they have a ton of unanswered questions swimming around in their heads. Thankfully, Quizzologists are here to clear things up a bit.

Here are ten frequently asked questions about the home mortgage process and links to their answers from the Quizzle blog and beyond:

1. How important is my credit score to getting a mortgage loan?

2. Is it the right time to buy a house?

3. If I’m denied a loan, does that mean I’ll never get one?

4. What are Discount Mortgage Points and should I buy them?

5. Should I make an extra mortgage payment?

6. Is Mortgage Life Insurance worth the cost?

7. What is Mortgage Recasting?

8. How does a Reverse Mortgage work?

9. Can I qualify for a new loan if I’ve made late mortgage payments?

10. If I’m changing jobs, can that impact my prospects for a loan?