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Do you need to get a mortgage preapproval?

Buyers often are eager to start looking at homes and tend to leave what they view as the boring, bureaucratic part of the homebuying process for last, says Michael Highfield, associate professor of finance and head of Mississippi State University's Department of Finance and Economics. “But in this competitive market, any serious buyer should pursue a preapproval from a lender in advance to …

How Do Mortgage Fees Work?

Obtaining a mortgage can be a confusing and stressful process, particularly when your mortgage banker first shows you the laundry list of mortgage fees you are required to pay at closing. For the typical

A Third of Mortgage Borrowers Don't Know What Rate They Pay

NEW YORK ( MainStreet ) — More than a third of mortgage borrowers aren't entirely sure what interest rate they're paying — bad news given that the window to refinance into a sub-4% loan appears to be closing, a Bankrate.com analysis shows.