mortgage terms

Loan to Value Ratio: What It Is and How to Calculate It

Loan-to-Valued(LTV) in real estate represents the ratio between the loan amount and the appraised value of the property being...

5 min read May 14, 2024
Loan to value ratio

Mortgage Amortization: Calculate Using an Excel Template

Mortgage amortization refers to the process of paying off a mortgage loan through a series of regular payments over a fixed period of...

7 min read May 14, 2024
Mortgage Amortization

What Is Mortgage & How it is Helpful?

A mortgage is a bank loan that serves as a starting point for your ideal house. To purchase a home, you take out a loan, which you then pay back with...

10 min read May 14, 2024
What is Mortgage Loan and How it is Helpful? Know Here

APR vs Interest Rate: What Is the Difference?

Discover the differences between APR and interest rate and their impact on borrowing costs. Make informed financial decisions with a clear understanding of these...

4 min read May 14, 2024
Decoding APR vs Interest Rate_ Understanding True Borrowing Costs

What Is a Promissory Note and How Does It Work?

A promissory note refers to a borrower's promise to repay a loan within a specific time. It provides legal protection to the...

5 min read May 13, 2024
What is a promissory note

Mortgage Loan Limits: Why It’s Rising and How It Impacts You

The national average mortgage loan limit in 2023 is $726,200 for a single-unit property. For Alaska and Hawaii, the limit is $1,089,300. The homebuyer’s purchasing power increases with larger loan...

3 min read May 13, 2024
Mortgage loan limits

Principal and Interest: The Pillars of Mortgage Repayment

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...

6 min read May 13, 2024
What is principal and interest

Assumable Mortgage: What It Is and How to Qualify For It

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...

7 min read May 13, 2024
Assumable mortgage

What Is A Second Mortgage And How To Get One?

In 2023, nationwide home appreciation grew by 3.9%. This appreciation indicates that the homeowners have gained more home equity. They can opt for a second mortgage against their property’s equity. A...

8 min read May 13, 2024
What is a second mortgage

What Is Basis Points (BPS) and How Are They Calculated

Basis points is a versatile tool used in analyzing interest rates, comparing mortgages, measuring performance, and managing...

5 min read May 13, 2024
What is Basis Points

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