Mortgage Basics
Mortgage Basics
Start Now and get an overview on common mortgage terms
Applying for a mortgage might feel overwhelming, but we're here to simplify the process. We've put together a comprehensive checklist to guide you through what to gather, complete, and understand before submitting your application.
Your credit history is a record of your past and current credit activities, used to calculate your credit score. Learn more about how credit works, ways to improve your score, and other essential insights today by clicking learn more below
Closing costs are fees required to complete a home loan, separate from your down payment. These expenses cover various services, such as appraisals and title insurance. Discover their purpose, payment options, and more.
An appraisal determines a property's fair market value and is required by lenders to ensure the loan amount aligns with the property's worth. Learn more about appraisals, how they work, ownership, and more by clicking "Learn More" below.
Private Mortgage Insurance (PMI) safeguards lenders against increased risk when borrowers make a down payment of less than 20%. Discover how PMI works, its costs, benefits, and more as you click "Learn More"
Refinancing your mortgage is a popular strategy to reduce monthly payments, lower interest rates, decrease your debt-to-income (DTI) ratio, and more. Learn about the refinancing process, its benefits, costs, and additional details today
Foreclosure occurs when a lender takes ownership of a property due to the borrower's inability to meet the terms of the mortgage agreement. Discover more about the foreclosure process and strategies to prevent it by clicking "Learn More" below.
Explore a comprehensive list of mortgage terms to deepen your understanding of the home loan process. Familiarizing yourself with these terms can help you make informed decisions and navigate your journey with confidence. Click Learn more now.
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