Marianne Hayes

1 week ago | experian.com | Marianne Hayes

Quick AnswerA rent-to-own agreement allows you to rent for a predetermined amount of time before purchasing the home. During your rental period, a portion of your monthly payments will likely be set aside for your down payment. Saving for a home down payment, qualifying for a mortgage and covering closing costs isn't always easy. A rent-to-own home allows you to pay rent for a predetermined amount of time before buying the home when the rental period ends.

2 weeks ago | experian.com | Marianne Hayes

How to Determine Home ValueCalculating a home's fair market value isn't an exact science, and a professional home appraiser may come to a different dollar amount than a real estate agent or online valuation tool. You might collect multiple estimates, then compare them to see if they're in the same ballpark. Having said that, below are four strategies for determining a home's value. Learn more: Assessed Value vs. Market Value: What's the Difference?

2 weeks ago | experian.com | Marianne Hayes

What Does a Mortgage Statement Look Like? A mortgage statement offers an overview of your most recent loan details. It's typically one or more pages long and highlights the following information. This should include your loan servicer's name, address and customer service phone number. If you're paying by check, be aware that the address you send your payment to may be different from the main address listed at the top of your mortgage statement.

2 weeks ago | experian.com | Marianne Hayes

Options for Handling a Mortgage in a DivorceWhen it comes to a joint mortgage, you have two options. The right one for you will depend on your goals, your financial situation and what you and your ex-spouse are able to agree on. One of you may want to stay in the family home, especially if you have children who are comfortable living there. Remember that any home equity you've established technically belongs to the both of you.

3 weeks ago | experian.com | Marianne Hayes

Quick AnswerMortgage loan originators guide homebuyers through the process of applying for and securing a home loan. That may be a loan officer who works directly for a lender or a mortgage broker who has relationships with multiple lenders. From getting preapproved for a mortgage to closing on your home loan, you'll likely work with a mortgage loan originator who guides you through the process from start to finish. It's an umbrella term that generally includes mortgage brokers and loan officers.