Mortgage amortization refers to the process of paying off a mortgage loan through a series of regular payments over a fixed period of...
Mortgage amortization refers to the process of paying off a mortgage loan through a series of regular payments over a fixed period of time.
Principal and interest are the two main components of your mortgage repayment structure. Understanding interest and principal is essential for every mortgage borrower. Mortgage payments are the cornerstone of...
Principal and interest are the two main components of your mortgage repayment structure. Understanding interest and principal is essential for every mortgage borrower. Mortgage payments are the cornerstone of most homeownerships. They determine the money you have to pay regularly to own your home. In this blog, we’ll explain principal and interest in simple terms, …
Principal and Interest: The Pillars of Mortgage Repayment Read More »
Roger and Amber realized early that they couldn’t afford a mortgage loan at the current interest rate of 7.6%. So, they inquired if their seller’s mortgage was assumable. They found out that it was...
Roger and Amber realized early that they couldn’t afford a mortgage loan at the current interest rate of 7.6%. So, they inquired if their seller’s mortgage was assumable. They found out that it was and assumed the existing mortgage at an interest rate of 3.5%. A mortgage is assumed when a buyer “assumes” a seller’s …
Assumable Mortgage: What It Is and How to Qualify For It Read More »
As a new homebuyer, you will need guidance at every step of the mortgage process. A mortgage loan originator (MLO) is one such guide that will give a smooth landing to your mortgage. An MLO is an individual,...
As a new homebuyer, you will need guidance at every step of the mortgage process. A mortgage loan originator (MLO) is one such guide that will give a smooth landing to your mortgage. An MLO is an individual, either employed or affiliated with the lender. An MLO solicits, negotiates, and explains the terms of the …
Mortgage Loan Originator: Meaning, Costs, and How to Choose Read More »
To get rid of PMI, you typically need to reach an 80% loan-to-value (LTV) ratio. Once you reach the ratio, you can request PMI...
To get rid of PMI, you typically need to reach an 80% loan-to-value (LTV) ratio. Once you reach the ratio, you can request PMI cancellation.
A 40-year mortgage is a long-term mortgage that allows borrowers to make payments over a period of 40...
A 40-year mortgage is a long-term mortgage that allows borrowers to make payments over a period of 40 years.
No-closing-cost mortgage allows you to avoid paying closing costs upfront. You can either roll them into the mortgage or pay higher...
No-closing-cost mortgage allows you to avoid paying closing costs upfront. You can either roll them into the mortgage or pay higher interest.
A mortgagor is a borrower who borrows money to purchase a property and agrees to repays over a specific...
A mortgagor is a borrower who borrows money to purchase a property and agrees to repays over a specific tenure.
Conditionally approved means that the mortgage approval is almost done but would require additional documents to grant the...
Conditionally approved means that the mortgage approval is almost done but would require additional documents to grant the same.
Mortgage Curtailment is the additional payment made against your existing mortgage. Thus, reducing the outstanding mortgage...
Mortgage Curtailment is the additional payment made against your existing mortgage. Thus, reducing the outstanding mortgage faster.
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