What is an interest only mortgage loan?
An interest-only mortgage loan is one in which the homeowner pays interest only for some initial period of the mortgage loan's terms...

Should I apply for a mortgage through my current bank?
There could be several benefits to obtaining a mortgage loan through your current bank. Here are some points to consider.

How is the loan money distributed?
When you buy an existing home from a seller, you will obtain a mortgage loan to pay for it (in most cases anyway). Part of this money will pay off the homeowner's existing mortgage (what they still owe on the home)...

How does a car re-po affect my chanes of getting a mortgage?
That depends on a few factors. But suffice to say it will come up as a red flag when mortgage lenders review your history...

Transferring money after preapproval. What to do?
It's probably not a big deal, as long as you still have the money as some from of an asset (in a checking account, for example), even if it's no longer in a CD. Here are some more things to consider...