Rectangle 1825-min.png
Mortgage Basics

MORTGAGE BASICS

Jump in and get an overview on common mortgage terms

Rectangle 1826-min.png

Application Checklist

Applying for a mortgage can seem a bit overwhelming at times. To help, we’ve created a checklist of things for you to gather, complete and acknowledge before applying. See the fill list by clicking learn more below.

4-3.png

Credit

Credit history is a recorded file of past and current credit that is utilized to compile a credit score. Below you can read about credit, how it works, and how to improve your score.

Rectangle 1828-min.png

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 learn more below.

Rectangle 1832-min.png

Appraisals

An appraisal is an estimate of a property’s fair market value and is required by a lender to ensure the loan amount is not more than the property value. Read about appraisals, how they work, ownership and more ...

Rectangle 1827-min.png

Private Mortgage Insurance (PMI)

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 learn more below.

Rectangle 1831-min.png

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 learn more below.

Rectangle 1829-min.png

Glossary of Terms

Mortgage terms are listed on the link below.

Rectangle 1833-min.png

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 learn more below.