What Are Closing Costs?
Separate mortgage fees, prepaid items, and cash to close. Learn which Loan Estimate figures to compare and calculate five-year borrowing cost for two offers.
Mortgage articles — page 14
Browse mortgage explanations by topic, or use the complete alphabetical article list.
What Are Mortgage Points?
If you have ever checked out the current status of mortgage interest rates, you may have seen the average points listed next to the rates. What are these points and…
What Costs Can I Expect as a Home Seller?
When you bought your house, the fees you paid included the closing costs for your mortgage, your down payment, and maybe some mortgage points. Now that you are ready…
What Does It Take to Refinance a Jumbo Loan?
Mortgage interest rates have dropped significantly in the past year and everyone wants to take advantage of the savings. Those who have jumbo loans – mortgages with…
What Fees Are Included in My Monthly Mortgage Payment?
You think you understand how much your mortgage payment is going to be and then your first bill comes. There seems to be more included in your payment than you…
What Happens If I Lose My Job During the Mortgage Process?
You are midway through the process of closing on a new home or a refinance mortgage. Then you lose your job. In today’s coronavirus crisis climate, plenty of home…
What is a 5/5 ARM?
If you are familiar with adjustable-rate mortgages (ARMs), you have probably heard of the 5/1 ARM or even the 10/1 or 1/1 ARM. There is a newer ARM loan available…
What is a Loan-to-Value Ratio?
Once you get serious about buying a home or refinancing your current mortgage, you will probably hear the term “loan-to-value ratio” mentioned by your lender. What is…
What is a Mortgage Servicer?
You recently closed on your mortgage loan and have been making your payments to your lender. Then one day, you get a letter in the mail informing you that your loan…
What is a Physician Loan?
Medical professionals often earn salaries far above the average American salary, and yet most come out of school with hefty student loans to repay. Such high debt…