Real Estate Blog
Clear, practical guides to the ideas behind the definitions.
13 mortgages guides, newest first.
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APR vs Interest Rate: What Is the Difference? The interest rate is the cost of borrowing the principal; APR adds certain lender fees and costs, expressed as a yearly rate that makes loan offers comparable.
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Short Sale vs Foreclosure: What Is the Difference? A short sale is an owner-initiated sale, with lender consent, for less than the mortgage balance; a foreclosure is a lender-initiated legal repossession.
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What Is a Short Sale in Real Estate? A short sale in real estate is the sale of a home for less than the balance owed on its mortgage, completed with the approval of the seller's mortgage lender.
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HELOC vs Home Equity Loan: What Is the Difference? A HELOC is a revolving credit line secured by home equity; a home equity loan is a lump sum repaid in fixed installments. See how rates and payments differ.
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Conventional Loan vs FHA Loan: What Is the Difference? A conventional loan is a mortgage that is not insured or guaranteed by a government agency. An FHA loan is insured by the Federal Housing Administration,…
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The Ins and Outs of Private Mortgage Insurance (PMI) Private mortgage insurance protects the lender on low-down-payment conventional loans. Learn how PMI works, what it costs, and how it can be canceled.