Mary Beth Eastman

2 weeks ago | money.usnews.com | Mary Beth Eastman |Colin Hogan |Gina Freeman

Company OverviewFirst Citizens Bank was founded in 1898 in North Carolina and today is one of the country’s top 15 financial institutions, in terms of assets. First Citizens offers a wide range of mortgage products as well as personal, commercial, and small business banking services, including investments and loans. Qualifying for a mortgage with First Citizens may require a slightly higher credit score than with some other institutions.

4 weeks ago | money.usnews.com | Mary Beth Eastman |Jessica Merritt |Emily Hayes

Company OverviewLightStream is the online consumer lending division of Truist Bank. Low-interest, fixed-rate loans from $5,000 to $100,000 are available for almost any purpose and are backed by a $100 satisfaction guarantee. Borrowers need to have good to excellent credit and may receive funds as soon as the same day they apply from the website or mobile app.

1 month ago | mortgageresearch.com | Mary Beth Eastman

The Bottom Line The homebuying process can take 5-6 months. Early communication with your landlord about an equitable solution can pay off. When you’re trying to buy a home, leaving your current living situation becomes part of the equation. For renters, that includes what to do with your lease. After all, you’ve signed a legal contract with your landlord stating you’ll live and pay rent there, usually for at least a year.

2 months ago | mortgageresearch.com | Mary Beth Eastman

The Bottom Line Title insurance can feel like an overpriced, unnecessary add-on at closing—but in a housing market full of hidden risks, it might just be your best protection against a costly legal headache. While not everyone needs it, this one-time policy can serve as a safety net if an unexpected claim ever threatens your ownership. You’ve been saving your money diligently, but home prices (and interest rates) seem to just keep rising.

2 months ago | money.usnews.com | Mary Beth Eastman |Ray Frager |Gina Freeman

Mortgage defaults have ticked up slightly since last year, primarily among FHA borrowers. Late or missing mortgage payments can seriously affect your credit history and could even lead to foreclosure. To avoid default, consider refinancing, using a home equity loan or line of credit, or asking your lender for forbearance or a loan modification. Mortgage defaults have risen slightly since this time last year, according to data from the Mortgage Bankers Association.