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First-time home buyer guides, helpful mortgage tips, and easy-to-follow articles to make you a better first-time buyer.

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What is a Non-Occupant Co-Borrower?
Just Starting
3 min read

What is a Non-Occupant Co-Borrower?

A non-occupant co-borrower is a person who co-signs a mortgage loan but does not live in the property that the mortgage is…

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What is HO-6 Insurance?
Just Starting
3 min read

What is HO-6 Insurance?

HO-6 Insurance, commonly known as "condo insurance" or "co-op insurance," is homeowners insurance for people who own units in a condominium or a…

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What is New Home Sales?
Just Starting
3 min read

What is New Home Sales?

New Home Sales is an economic indicator that tracks the number of newly constructed homes sold in a given…

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What is Personal Consumption Expenditures?
Just Starting
3 min read

What is Personal Consumption Expenditures?

Personal Consumption Expenditures (PCE) is an economic indicator representing the value of household goods and services…

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What is the House Price Index?
Just Starting
2 min read

What is the House Price Index?

The House Price Index (HPI) is an economic indicator that tracks changes in home prices across the United States. The Home Price Index rose 6.6% in…

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What is a Home Inspection?
Just Starting
4 min read

What is a Home Inspection?

A home inspection is a thorough examination of a property's condition, typically conducted by a qualified…

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What is a Flipped Home?
Just Starting
3 min read

What is a Flipped Home?

A flipped home is a property that has been purchased, renovated, and sold for a profit within a short period, usually nine months or…

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What is Master Condo Policy?
Just Starting
3 min read

What is Master Condo Policy?

A Master Condo Policy is an insurance policy held by a condominium's homeowners association (HOA) that covers common areas and the overall structure…

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What is a Deductible?
Just Starting
4 min read

What is a Deductible?

A deductible is the amount of cash a homeowner must pay out of pocket before insurance coverage kicks…

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What Is Homeowners Insurance?
Just Starting
3 min read

What Is Homeowners Insurance?

Homeowners insurance is an insurance policy that pays out when a home is damaged by weather, fire, or other means.…

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What is a High-Cost Area?
Just Starting
6 min read

What is a High-Cost Area?

A high-cost area is a city, county, or parish where the median home value significantly exceeds the national average, leading to higher loan limits…

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What is the National Association of REALTORS®?
Just Starting
3 min read

What is the National Association of REALTORS®?

The National Association of REALTORS® (NAR) is a real estate trade organization and owner of the registered trademark…

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What is Payment Shock?
Just Starting
3 min read

What is Payment Shock?

Payment shock refers to a significant and abrupt increase in a first-time home buyer's monthly financial obligations, particularly when transitioning…

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What is Principal Balance?
Just Starting
3 min read

What is Principal Balance?

Principal balance is the amount of unpaid money on a mortgage…

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What is Free-and-Clear?
Just Starting
3 min read

What is Free-and-Clear?

Free-and-clear refers to a property that is owned outright without any mortgages or liens against…

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What is Earnest Money?
Just Starting
3 min read

What is Earnest Money?

Earnest money is a deposit made by a home buyer to show they are serious about purchasing a…

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What is Mortgage Default?
Just Starting
4 min read

What is Mortgage Default?

Mortgage default is when a homeowner fails to meet the legal obligations of their home loan, typically by not making its required monthly mortgage…

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What Is A Mortgage Cosigner?
Just Starting
9 min read

What Is A Mortgage Cosigner?

A mortgage cosigner is a person who agrees to make mortgage payments on behalf of a home buyer in the event the buyer falls behind on their mortgage…

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