- Mortgage Basics -
Application
Applying for a mortgage can seem like a daunting and scary process. To help, we’ve created a checklist of things for you to compile, complete and acknowledge before applying. See the fill list by clicking the button below.
Credit
Credit history is a recorded file of past and current credit that is utilized to compile a credit score. Read more about credit, how it works, how to improve your overall score and much more by clicking the button below.
Closing Costs
A closing cost is a payment required to finalize a home loan and is separate from a down-payment. Read about closing cost, their purpose, how you can pay them and more by clicking the button below.
Appraisals
An appraisal is an estimate of a property’s fair market value & is required by a lender to ensure the loan amount is not more than the property value. Read about appraisals, how they work, & ownership by clicking below.
P.M.I.
Private Mortgage Insurance or PMI is insurance that protects a lender from increased risk from borrowers putting less than 20% down on a house. Read about PMI, how it works, cost and more by clicking the button below.
Refinance
Refinancing your mortgage is a common practice used to lower monthly payments, interest rates, lower your DTI and more. Read about refinancing, how it works, cost and more by clicking the button below.
Foreclosure
Foreclosure is the process of a lender seizing a property in accordance with the terms stipulated in the mortgage contract. Read about foreclosure and how to avoid it by clicking the button below.