There are few experiences in life as exciting and stressful as buying a home. It’s a constant rollercoaster ride of thrills and fears, new experiences and cliffhangers that threaten to ruin all your dreams forever. By the time your inspections are over and your Realtor assures you there’s not much left to do but wait,… Continue Reading
Buying a house can be a confusing hurricane of paperwork, with lots of indecipherable legal documents and technical terms being tossed around. By the time you get to closing, you’re holding on by your fingernails, and just thankful that it’s almost over. You’re exhausted, emotionally and physically, but there’s just a little bit more to… Continue Reading
Mortgage points is a unique American approach to home financing. A mortgage point is an amount equivalent to 1% of the mortgage loan amount. For example, if you take a loan of $300,000, one point would be $3000. There are two kinds of mortgage points: Origination points and Discount points. Origination Points Origination fee is… Continue Reading
When you apply for a mortgage loan, the lender is required by the federal ‘Truth in Lending Act’ to tell you both the interest rate and the annual percentage rate (APR). This enables borrowers to know the true cost and perform apples to apples comparison of loan offers by competing lenders. Your monthly payment, however,… Continue Reading