Blog Page Benefits Of Helping Your Child Buy A Home Building Equity & Long Term Investment Helping with mortgage payments may make more sense than providing a monthly allowance. Paying How to Get Pre-qualified for a Mortgage What is Pre-qualification? Although often used interchangeably, pre-qualification and pre-approval are different terms in the home loan application process. Homebuyers 9 Simple Steps to Buying A Home 2021 Guide Purchasing a new home is exciting. However, buying a house requires a lot of time and effort. It Homeowner's Insurance Homeowner’s insurance pays for losses and damage to your property if something unexpected happens, like a fire or burglary. When Home Purchase Price A home’s purchase price is the amount agreed to by the buyer and seller to be paid to the seller HUD The Department of Housing and Urban Development (HUD) is a government agency that helps people get and maintain quality affordable Initial Escrow Deposit An initial escrow deposit is an amount that you will pay at closing to start your escrow account if required Interest Rate An interest rate on a mortgage loan is the cost you will pay each year to borrow the money, expressed Home Appraisal An appraisal is a written document that shows an opinion of how much a property is worth. The appraisal gives Home Equity Line of Credit (HELOC) A home equity line of credit (HELOC) is a line of credit that allows you to borrow against your home Loan Estimate A Loan Estimate is a three-page form that you receive after applying for a mortgage. “Mortgage Key Terms.” Consumer Financial Protection Loan-to-Value Ratio The loan-to-value (LTV) ratio is a measure comparing the amount of your mortgage with the appraised value of the property. Monthly Expenses This is how much you spend every month. It can include but is not limited to, recurring obligations like rent How to Prepare Your Finances for Your First Home Are you thinking about buying your first home? Congratulations! It's no secret that buying your first home is one of What to Do Once You're Pre-Qualified Wondering what to do once you're pre-qualified? If so, you're not alone! This can be a fascinating time, but some « Previous 1 2 3 Next »