Mortgage Guides, Tips & Market Insights

Closing Costs in Washington DC: 2026 Buyer Guide to Taxes, Fees and Savings

In DC, one line dominates a buyer’s closing costs: the recordation tax. First-time buyers may pay half. Short answer: the largest DC-specific closing cost for a buyer is the deed recordation tax: 1.1 percent of the price on homes under $400,000 and 1.45 percent of the entire price at $400,000 or mor

Cash-Out Refinance vs HELOC vs Home Equity Loan: Which Is Better in 2026?

Borrowing against your home comes down to one question first: is your current mortgage rate worth keeping? Short answer: a cash-out refinance replaces your whole mortgage with a larger one at today’s rate. A HELOC or home equity loan is a second loan that leaves your first mortgage alone. If your cu

How to Get Rid of PMI in 2026: When and How to Remove Mortgage Insurance

Removing PMI is a request you make to your loan servicer. Knowing the rules can get it done sooner. Short answer: on a conventional loan you can ask your servicer to cancel PMI once your balance reaches 80 percent of the home’s original value, and it must end automatically at 78 percent. On a $500,0

VA Loan Funding Fee 2026: Rate Chart, Exemptions and How to Lower It

The VA funding fee is a one-time charge. Many veterans never pay it, and those who do can sometimes lower it. Short answer: on a 2026 VA purchase loan with less than 5 percent down, the funding fee is 2.15 percent of the loan the first time you use the benefit and 3.3 percent after that. Put 5 perce