Closing a mortgage always involves closing costs which will vary from lender to lender. Even so-called “no closing costs loans” involve paying to close the loan, even if the borrower doesn’t foot the bill, someone does. If you want to reduce the cost of closing your mortgage, here are a few tips you can use.… Continue Reading
As you go about your mortgage shopping, checking out deals and offers here and there, you may notice a peculiarity of the people you deal with. Some of them are bankers, others are brokers. Maybe they’ve even got some other invented title, but they do seem to offer some very different kinds of products. If… 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