A mortgage is a type of loan specifically designed for purchasing real estate, typically a home or property. It enables individuals to acquire property by borrowing money from a lender, usually a bank or mortgage company, with the property itself serving as collateral for the loan. Mortgages come with an agreed-upon interest rate and repayment terms, often spanning several years. The borrower makes monthly payments to the lender, which include both principal (the amount borrowed) and interest (the cost of borrowing the money). Over time, as the borrower makes payments, the loan balance decreases, and the borrower builds equity in the property. If the borrower fails to make payments as agreed, the lender may have the right to foreclose on the property and sell it to recover their investment. Mortgages are essential financial tools that enable individuals to achieve homeownership while spreading the cost of a property over an extended period.
When purchasing a home, taking complete stock of every aspect is critical. Vibrant flowers, freshly repainted walls, marble countertops, sparkling hardwood floors, and other superficial details will greet you. You can’t see the foundation fractures, old plumbing, unsafe wiring, malfunctioning…
For aspiring homeowners, one of the most critical factors to consider is the prevailing interest rates. The rising interest rate on a mortgage can significantly affect affordability and long-term financial planning. As interest rates rise, it becomes imperative for prospective…
Private Mortgage insurance, also known as PMI, is a type of insurance that protect lenders if a borrower defaults on their mortgage loan. This insurance can benefit both borrowers and lenders alike, as it can help reduce the lender’s risk…
As a homeowner, one of the most significant tax benefits available is the mortgage interest tax deduction. This deduction can save you substantial money on your taxes, but understanding how it works is crucial to maximizing its benefits. Whether you’re…
Find the 2025 Missouri FHA loan limits by county below. Metropolitan Mortgage Corporation compiled the FHA loan limits data from Housing and Urban Development. Missouri FHA loan limits by county County NameStateOne-FamilyTwo-FamilyThree-FamilyFour-FamilyADAIR COUNTYADAIRMO$524,225$671,200$811,275$1,008,300ANDREW COUNTYMO$524,225$671,200$811,275$1,008,300ATCHISON COUNTYMO$524,225$671,200$811,275$1,008,300AUDRAIN COUNTYMO$524,225$671,200$811,275$1,008,300BARRY COUNTYMO$524,225$671,200$811,275$1,008,300BARTON COUNTYMO$524,225$671,200$811,275$1,008,300BATES COUNTYMO$524,225$671,200$811,275$1,008,300BENTON COUNTYMO$524,225$671,200$811,275$1,008,300BOLLINGER COUNTYMO$524,225$671,200$811,275$1,008,300BOONE…
Find the 2025 Kansas FHA loan limits by county below. Metropolitan Mortgage Corporation compiled the FHA loan limits data from Housing and Urban Development. Kansas FHA loan limits by county County NameStateOne-FamilyTwo-FamilyThree-FamilyFour-FamilyALLEN COUNTYKS$524,225$671,200$811,275$1,008,300ANDERSON COUNTYKS$524,225$671,200$811,275$1,008,300ATCHISON COUNTYKS$524,225$671,200$811,275$1,008,300BARBER COUNTYKS$524,225$671,200$811,275$1,008,300BARTON COUNTYKS$524,225$671,200$811,275$1,008,300BOURBON COUNTYKS$524,225$671,200$811,275$1,008,300BROWN COUNTYKS$524,225$671,200$811,275$1,008,300BUTLER COUNTYKS$524,225$671,200$811,275$1,008,300CHASE COUNTYKS$524,225$671,200$811,275$1,008,300CHAUTAUQUA…
Find the 2025 Missouri conforming loan limits by county below. Metropolitan Mortgage Corporation compiled the conforming loan limits data from Federal Housing Finance Agency Missouri conforming loan limits by county County NameStateOne-UnitLimitTwo-UnitLimitThree-UnitLimitFour-UnitLimitADAIR COUNTYMO$806,500$1,032,650$1,248,150$1,551,250ANDREW COUNTYMO$806,500$1,032,650$1,248,150$1,551,250ATCHISON COUNTYMO$806,500$1,032,650$1,248,150$1,551,250AUDRAIN COUNTYMO$806,500$1,032,650$1,248,150$1,551,250BARRY COUNTYMO$806,500$1,032,650$1,248,150$1,551,250BARTON COUNTYMO$806,500$1,032,650$1,248,150$1,551,250BATES COUNTYMO$806,500$1,032,650$1,248,150$1,551,250BENTON COUNTYMO$806,500$1,032,650$1,248,150$1,551,250BOLLINGER COUNTYMO$806,500$1,032,650$1,248,150$1,551,250BOONE…
Find the 2025 Kansas conforming loan limits by county below. Metropolitan Mortgage Corporation compiled the conforming loan limits data from Federal Housing Finance Agency Kansas conforming loan limits by county County NameStateOne-UnitLimitTwo-UnitLimitThree-UnitLimitFour-UnitLimitALLEN COUNTYKS$806,500$1,032,650$1,248,150$1,551,250ANDERSON COUNTYKS$806,500$1,032,650$1,248,150$1,551,250ATCHISON COUNTYKS$806,500$1,032,650$1,248,150$1,551,250BARBER COUNTYKS$806,500$1,032,650$1,248,150$1,551,250BARTON COUNTYKS$806,500$1,032,650$1,248,150$1,551,250BOURBON COUNTYKS$806,500$1,032,650$1,248,150$1,551,250BROWN COUNTYKS$806,500$1,032,650$1,248,150$1,551,250BUTLER COUNTYKS$806,500$1,032,650$1,248,150$1,551,250CHASE…
Exploring the Pros and Cons of a Fixed-Rate Mortgage Choosing the right type of mortgage is a crucial decision when it comes to financing a home purchase. Among the various options available, a fixed-rate mortgage is a popular choice that…
What is a Balloon Mortgage? A balloon mortgage is a type of loan that offers lower initial monthly payments and a large lump-sum payment at the end of the loan term. This unique structure can be appealing to certain borrowers…
