Many borrowers go through the mortgage process in a haze, nodding, smiling, and signing through a bunch of noise that sounds like Greek. Even though you may have put your trust in your real estate and mortgage team, it helps…
Continue reading the "Talk the Talk – Know the Mortgage Lingo at Closing" »
The difference between APR and the actual note rate is very confusing, especially for First-Time Home Buyers who haven’t been through the entire closing process before. When shopping for a new mortgage loan, you may notice an Annual Percentage Rate…
Many people believe that interest rates are simply set by lenders, but the reality is that mortgage rates are largely determined by what is known as the Secondary Market. The secondary market is comprised of investors who buy the loans…
Debt-to-Income (DTI) is one of the many new mortgage related terms many First-Time Home Buyers will get used to hearing. DTI is a component of the mortgage approval process that measures a borrower’s Gross Monthly Income compared to their credit…
Continue reading the "What’s My Debt-to-Income (DTI) Ratio?" »
Understanding the definition of Loan-to-Value (LTV), and how it impacts a mortgage approval, will help you determine what type of loan amount and program you may qualify for. Since the LTV Ratio is a major component of getting approved for…
While most mortgage web sites offer a glossary containing hundreds of real estate and lending related terms, we wanted to highlight the top terms that most borrowers will hear several times throughout the approval and home buying process. Understanding the…
