The world of mortgages can be a bit confusing with all the different terminology, jargon and rates. It gets even more interesting when the acronyms come into play – ARM, FRM, RAM, APR, just to name a few. One reader asked the difference between a 15-year and a 30-year fixed rate mortgage. [...]
Category Archives: Mortgage
What’s the difference between a 15 and 30 year fixed mortage? An adjustable rate mortgage?
01-Sep-08If you find this helpful, please vote for it at Millionaire Mommy Next Door before Nov. 4, 2007. Thanks!
This reader question is especially timely given the turmoil in the mortgage markets the last three months:
Who are Ginnie Mae, Freddie Mac and Fannie Mae and what do they do?
Freddie Mac and Fannie Mae are the [...]
One reader wanted to know the “average” loan amount for a household with good credit and an income of $50,000. This is a great example as $50,000 is pretty close to the national median household income of $48,201 in 2006. If your household income is lower or higher than $50,000, just multiply all the [...]










