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2. First-time homebuyer guide - AOL

   www.aol.com/finance/first-time-homebuyer-guide...

   This is an extra monthly fee that covers the lender should you default on, or stop paying, the loan. You don’t have to put down 20 percent, though — you can pay as little as 3 percent with PMI.

3. Guide to first-time homebuyer loans and programs - AOL

   www.aol.com/finance/guide-first-time-homebuyer...

   Low-interest loans: A low-interest second mortgage you’ll repay over the course of a few ... FHA loans allow you to buy a home with a minimum credit score of 580 and as little as 3.5 percent ...

4. FHA loans: Definition, requirements and limits - AOL

   www.aol.com/finance/fha-loans-134807555.html

   Basic home mortgage loan or 203(b) loan: The 203(b) loan is the FHA’s main home loan program for buying a home or refinancing. These loans come with fixed and adjustable-rate options, as well as ...

5. What are the monthly payments on a $500,000 mortgage? - AOL

   www.aol.com/finance/500000-mortgage-payment...

   Based on the 28% rule, your household should aim for a monthly before-tax income of $12,696 — or an annual gross income of about $152,352 ($12,696 x 12) — to comfortably afford a $500,000 ...

6. How to get preapproved for a mortgage - AOL

   www.aol.com/finance/preapproved-mortgage...

   In general, lenders like to see a mortgage payment taking up no more than 28 percent of your gross monthly income and your total debt payments (which include credit cards, car loans and other ...

7. Prepayment of loan - Wikipedia

   en.wikipedia.org/wiki/Prepayment_of_loan

   In general, only borrowers who expect to keep their loans for many years should opt for below-market interest rates by paying mortgage origination points or forgoing automobile rebates. Homeowner prepayment decisions are impacted by a number of variables and are notoriously hard to predict, adding another layer of uncertainty to investing in ...