Josh Anderson 
Mortgage Insurance Premium (MIP) is the type of Mortgage Insurance applied to Mortgage Loans insured by the Federal Housing Administration or FHA Mortgage Loans. These FHA Loans are provided by FHA-approved mortgage lenders and are popular options for homebuyers who may not have the financial means to make large down payments or meet high credit … Read more
Mortgage Insurance is a type of insurance that protects against default on Mortgage loans. When a homebuyer wants to buy or refinance a home then they may be required to pay for Mortgage Insurance as part of monthly payments. Mortgage Insurance protects the mortgage lenders in case the borrower defaults on a home loan. Mortgage … Read more
The Down Payment is the sum that a buyer pays upfront when purchasing a House. The Down Payment is the percentage of the Home’s purchase that a homebuyer pays upfront when they close their home loan. It is the initial cash payment the buyer makes during the real estate transaction and represents a percentage of … Read more
Fannie Mae And Freddie Mac are the federally backed Mortgage companies that are created by U.S. Congress. Fannie Mae And Freddie Mac are financial fuels that guarantee most of the mortgages made in the United States of America, together they are also known as government-sponsored enterprises (GSEs). Fannie Mae And Freddie Mac are the federally … Read more
A Mortgage Pre-approval is the most important part when an individual buys a home. if a homebuyer is pre-approved, it means that the mortgage lender has stated that they qualify for the Mortgage Loan based on the information they have provided and subject to certain conditions. A Mortgage Pre-approval shows sellers they can afford to … Read more
When a Borower takes out a Mortgage Loan, they agree on the Mortgage terms with lenders. The most common mortgage term is 25 years, however, some stretch to 40 years. That’s why it is most important to understand what that number means for the homebuyers for finance over time. A Mortgage Term is defined as … Read more
If you are looking to apply for a mortgage loan then here we have given some steps, processes, and tips to do the Mortgage Application process. A mortgage Loan is the type of home loan that is used to purchase or refinance a home or real estate property. The mortgage borrowers are typically homebuyers or … Read more
An Annual Percentage Rate (APR) is the yearly interest generated by a sum that is changed to borrowers or paid to the Investors. Annual Percentage Rate or APR reflects the true cost of Borrowing. APR represents the price to borrow the money. The annual Percentage Rate or APR measures the yearly cost of borrowing money … Read more
A Mortgage Lender is a financial institution or bank that provides and underwrites home loans to borrowers. These Institutions determine whether to approve borrowers for a Mortgage loan or not and they set the rate of interest and loan terms. Mortgage Lenders provide financing to buy, build, or renovate the property. They also refinance the … Read more
A Debt-to-income (DTI) Ratio is the percentage of gross monthly income that goes paying to the monthly debt payments and is used by lenders to determine the borrowing risk. The Debt-to-income (DTI) Ratio is the metric used by creditors to determine the ability of a borrower to pay their debt and make interest payments. DTI … Read more