For your consideration: Our observations regarding What's holding back the housing market?
Prepaying your mortgage can be a great way to save a bundle of extra cash over time. Doing so not only saves in interest cost but builds equity faster and also shortens the term of your loan, so you'll own your home free and clear much sooner.
HSH's free, downloadable Homebuyer's Calculator Suite allows for regular or irregular prepayments of principal, and will show you the effect your extra effort will have on your total loan costs and term.
The owner of the loan is most often the "investor" -- the entity who put up the actual funds to make your mortgage happen.
Read MoreThis question used to have a simple answer, since there was a "bright line" definition -- the conforming loan limit....
Read MoreSimply put, a "conforming" mortgage "conforms" to a set of standards so that the loan can be eligible to be sold to Fannie Mae or Freddie Mac.
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