Alice Holbrook

San Francisco, Ann Arbor

Banking writer for @NerdWallet. Cyclist. Baker. Karaoke enthusiast.

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Articles

What Government Layoffs Could Mean For Your Mortgage

3 weeks ago | bankrate.com | Jeff Ostrowski |Alice Holbrook

Since President Donald Trump took office earlier this year, the regulatory agencies that oversee the U.S. mortgage market have been on the chopping block.
How To Find The Best VA Lender: A Guide

4 weeks ago | bankrate.com | Taylor Freitas |John Stearns |Alice Holbrook

If you’re shopping for a VA loan, look for VA-accredited financial institutions that specialize in them. When comparing VA mortgage lenders, look at support options, fees and, as you would with any lender, factors like rates, convenience and responsiveness. Recommendations from other VA loan borrowers can be a great way to find a VA lender.
Loan Modification Vs. Refinance

4 weeks ago | bankrate.com | Jeff Ostrowski |Alice Holbrook |Thomas Brock

How is this page expert verified? At Bankrate, we take the accuracy of our content seriously. “Expert verified” means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Their reviews hold us accountable for publishing high-quality and trustworthy content.
Per Diem Interest For A Mortgage

1 month ago | bankrate.com | David McMillin |Beverly Harzog |Alice Holbrook

Per diem interest is the interest a mortgage lender charges for the days between your closing date and the first day of the billing cycle. Lenders may ask you to pay per diem interest as a lump sum payment or roll the amount into your first mortgage payment. Scheduling a closing date near the end of the month can help you save on per diem interest costs. What is per diem interest?
What Is The Good Neighbor Next Door Program?

1 month ago | bankrate.com | Autumn Cafiero Giusti |Beverly Harzog |Alice Holbrook

The Good Neighbor Next Door program offers qualifying buyers a chance to purchase a HUD-owned property for half off the list price and a down payment as low as $100. To qualify for the program, you must be a teacher, law enforcement officer, firefighter, or emergency medical technician and buy in a designated revitalization area. What is the Good Neighbor Next Door program?
How To Compare Mortgage Loan Estimates

1 month ago | bankrate.com | Jennifer Franklin |John Stearns |Alice Holbrook

A mortgage loan estimate is a standard three-page document detailing the estimated costs, structure and other terms of a loan. Mortgage lenders are required by law to provide borrowers with a loan estimate within three business days of receiving the loan application. The loan estimate helps borrowers understand the complete cost of their mortgage and makes it easier to compare loan offers. What is a mortgage loan estimate?
What Is A No-Closing-Cost Mortgage?

1 month ago | bankrate.com | Erik Martin |John Stearns |Alice Holbrook

Many lenders offer no-closing-cost mortgages, meaning you don’t need to pay the closing costs upfront when you buy a new home. Instead, closing costs are rolled into the loan balance or compensated for in the form of a higher interest rate. On the plus side, no-closing cost mortgages mean less immediate outlay. On the downside, these loans tend to cost more over their lifetimes. What is a no-closing-cost mortgage?
What Is A First Mortgage?

1 month ago | bankrate.com | Kacie Goff |Varo Money |Alice Holbrook |Thomas Brock

A first mortgage is the primary or original loan on a home, typically used to buy the property. “First” also describes the lender’s lien position on the property. If your home were foreclosed upon and sold, the lender of the first mortgage would have first claim to the proceeds. Generally, first mortgages are easier to qualify for than second mortgages, such as a home equity loan. What is a first mortgage?
Offer Accepted! Now Watch Out for These Mortgage Hurdles

1 month ago | bankrate.com | Erik Martin |Alice Holbrook

If you’ve saved a hefty down payment, found a house within your budget and a mortgage rate you can afford, you may expect a smooth ride to closing — and you may get it. But even if you’ve done everything right, there might still be some bumps on the road to receive your keys.
As mortgage fraud rises, what you should know to stay safe

2 months ago | bankrate.com | Andrew Dehan |Alice Holbrook

It’s no secret that the housing market has been rough recently — for both prospective buyers and industry professionals. Thanks to rising interest rates and low housing supply, existing home sales have struggled to regain pandemic-era highs, and tightening credit standards leave mortgage applicants with a one-in-five chance of being rejected. In conditions like this, some will always bend the rules to get ahead.