As a homeowner, there are many terms you will need to know. Here are the top ten:
Escrow is where your mortgage payment will be deposited every month. This account is a safe place where the escrow company stores your money and disburses it to the correct parties (taxes & insurance).
PMI is monthly insurance that a lender requires borrowers who put less than 20% down[...]
As a lender that made it through the Financial Crisis of 2007-2008, we know that doing the right thing for your clients should be your ultimate priority. As a lender that focuses on experience and customer service, we believe that it is our job to educate people on all their options.
As you shop for different lenders, you will notice a difference in interest rates. While this is a good indication of how much you are paying for a mortgage, it isn’t the only cost to look[...]
If you are buying your first home, you will need to learn some of the jargon before you get started. Here are the most important terms you will need to know ahead of the loan process.
You will hear the word appraisal earlier in the process. An appraisal is a 3rd party estimation of the value of the property. The analysis will be highly accurate and take into consideration the comparable sales in your neighborhood. This will give the lender an understanding[...]