Here are helpful articles to help you learn about mortgage.
A loan scenario is made up of the basic attributes of a loan, so rarely are any two mortgages exactly alike. Changes in your scenario may end up affecting the cost of your loan, which is why we rely on the higher accuracy of a personalized quote to a generalized rate. Keep reading to understand the different parts to a scenario.
Start investing toward your future goals with the equity built on a new home through your monthly payment. To calculate your equity, take the difference between your property’s value and any loan amounts you have against the home.
Understanding the benefits of mortgage refinancing affords homeowners like you the flexibility to access and manage your home equity and mortgage obligations. This knowledge can become a great tool to adjust and accommodate for life’s circumstances and changes.
For the purpose of transparency, the Consumer Finance Protection Bureau (CFPB) requires lenders to provide two forms to show the fees and credits on your loan. These forms are the Loan Estimate (LE) and Closing Disclosure (CD).
Annual Percentage Rate (APR) is not the interest rate on your mortgage and does not impact your monthly mortgage payments. So what is it? APR represents both your interest rate and the points and closing fees associated with your loan transaction.
Deciding between a fixed rate or adjustable rate mortgage can be daunting. Learning the difference between these two types of loan terms can help you make the best decision. When in doubt, a fixed rate mortgage is the safest bet. However, adjustable rate mortgages can provide flexibility and financial benefits.