Search results for “LTV”
What Does the Letter State? A commitment letter specifies the type of mortgage being obtained, the amount of money being borrowed, the terms or length of the repayment period, and the mortgage interes...
What is PMI? The idea of owning a home for the first time is an exhilarating prospect for many people. Factor in the excitement of having found a dream home or needing to make a move in a hurry for a...
What You Need to Know About the 20% Down Payment Myth
How Low Can You Go? Once upon a time, saving for a 20% down payment was an expected part of buying a home. However, the introduction of the FHA mortgage in the 1930s did away with this hefty savings r...
15 Mortgage Terms You Need to Know
1. AmortizationAmortization describes the shrinking of your mortgage as you pay it off. With each mortgage payment you make, part of the repayment is applied towards reducing the principal, while a se...
Buying a House: Learn About What Goes Into Mortgage Payments
Here’s How to Calculate Your Mortgage Payment While there are many costs associated with owning a home, let’s start with what exactly makes up a large portion of the cost – your mortgage payment. A...
Why Use a Mortgage Calculator?
What information do I need to use a mortgage calculator? Using a mortgage calculator isn’t all that complicated or info-heavy, you’ll just need a few pieces of basic info to get the pieces you’re look...
Home Equity Financing: The Definitive Guide
Newrez Home Equity Loan2 vs Cash-Out Refinance3: What’s the difference? With Newrez Home Equity Loan you can tap into the equity in your home without giving up your current mortgage. You can keep yo...
How Your Mortgage Rate is Calculated (and What You Can Do About It)
Why Mortgage Rates Matter If you’re like most homebuyers, there are three mortgage factors that probably concern you most: the closing costs, the monthly payment, and the rate. The lower your mortgage...
FHA Refinance Guidelines in 2022
The FHA also offers great refinancing options, whether you’re an existing FHA borrower or not. If you’re thinking about a refi, an FHA refinance might be right for you. Check out these FHA refinance o...