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 What is the difference between a mortgage and a home equity loan?

Answer Mortgages and home equity loans both use the value of your home to secure the loan. However, the functions of these loans differ.PurposeA mortgage is the original loan taken out to finance a home. ... Read More »
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What is the difference between a mortgage and a second mortgage?

A mortgage is a home loan. There are numerous types of home loans. However, the two most often procured are first and second mortgages. Each type of mortgage has different rules and regulations.Sig... Read More »
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What is the difference between a traditional& an FHA mortgage?

There are many different types of mortgages available in the marketplace today. Two of the most popular products are traditional or conventional mortgages and FHA mortgages. Both mortgage product... Read More »
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What Is the Difference Between an APR and a Mortgage Rate?

When shopping for a mortgage loan, you'll see two different numbers used to represent interest rates. The mortgage rate is what the lender advertises; the annual percentage rate, or APR, is a more ... Read More »
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What is the difference between a Freddie Mac& an FHA mortgage?

Conventional mortgages are purchased by Freddie Mac once the loan is closed by a local lender. An FHA mortgage is insured by the Federal Housing Administration. Each type of mortgage has different ... Read More »
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