Topic: Mortgage Terms

Paying Points on Your Mortgage

When considering a home purchase, your mortgage planner will take the time to review your goals and financial situation and suggest the best loan program for your needs. One of the things that may be suggested is paying “points” on...

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Understanding Mortgage Rates

Mortgage interest rate is the rate of interest charged on a home mortgage loan. In most cases, mortgage rates are based in large part on mortgage-backed securities. Rates can be fixed or variable. Mortgage rates rise and fall and can...

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Understanding Closing Costs

Closing costs are fees that are paid as part of a real estate transaction. Because buying a home is a contract between a seller and a buyer, and the property changes hands, there are various costs and several people involved....

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Understanding Home Appraisals

When you purchase a home, it is important that you receive the fairest sales price possible. Lenders hire an independent home appraiser to judge if the price of a home is fair based on the price of the other homes...

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