Learning Center
There are certain standard costs associated with closing the sale of a house...(read more)
A critical step in the mortgage loan application process is to verify the sources for your down payment, closing costs and assets, as well as documenting income and debts...(read more)
In many cases, lenders need a professional, independent appraisal of the property you want to buy or refinance to ensure that it is worth at least as much as they are being asked to lend on it...(read more)
Your debt to income ratio is simply a way of determining how much money is available for your monthly mortgage payment after all your other recurring debt obligations are met...(read more)
The HUD-1, also known as the settlement statement, is a prescribed form from the U.S. Department of Housing and Urban Development (HUD)...(read more)
Your monthly mortgage payments are handled by what is known as a mortgage servicer...(read more)
If the last time you looked at your mortgage was when you closed on your loan, it’s time to take it out for an annual once over...(read more)
Many of us incorrectly call our home loan a mortgage, but in fact, a mortgage is not what your lender gives you to buy a home...(read more)
You'll see an interest rate and an Annual Percentage Rate (A.P.R.) for each mortgage loan you see advertised...(read more)
A rate lock or a rate commitment is a lender's promise to hold a certain interest rate and a certain number of points for you for a specified period of time while your application is processed...(read more)
Real Estate Glossary of commonl;y used terms...(read more)
Before you reach the closing day, you will want to make a decision as to how you will "hold title" to the property...(read more)
