Mortgage Loans

What’s the difference between preapproval and prequalification?
June 22, 2021

What’s the difference between preapproval and prequalification?

When you start looking for your first home, it’s important to know what you can ultimately afford and how large of a mortgage you can obtain. To help in this process, you should understand two critical first steps: mortgage preapproval

Mortgage Loans
What is Escrow?
October 13, 2020

What is Escrow?

In many ways, buying a home is a series of midpoints. At the outset, you’re in the midst of actually identifying a place that you can see yourself living in. When you make an offer on a house, you’re in

Mortgage Loans
What’s the difference between being pre-qualified and pre-approved for a mortgage?
April 15, 2020

What’s the difference between being pre-qualified and pre-approved for a mortgage?

Being prepared for big events is generally a smart idea. Taking out a mortgage is certainly a big event in most people’s financial lives, to say the least. Speaking to a lender – or multiple lenders – about your eligibility

Mortgage Loans
What is private mortgage insurance?
February 19, 2020

What is private mortgage insurance?

Private mortgage insurance (PMI) protects mortgage lenders against financial losses that occur when a borrower defaults on a loan. If you stop making monthly payments on a mortgage, you’ll start getting notices from the bank, urging you to pay your

Mortgage Loans
What’s a jumbo loan and when would you need one?
November 13, 2019

What’s a jumbo loan and when would you need one?

A jumbo loan, also referred to as a jumbo mortgage or a non-conforming loan, is a specific type of financing that’s designed for luxury properties and single-family homes in expensive real estate markets. Jumbo loans are called so because they

Mortgage Loans
What you should know about cash-out refinances
October 15, 2019

What you should know about cash-out refinances

  Refinancing is an option many homeowners consider once they’re well into paying off a mortgage. By refinancing, homeowners can benefit from more favorable rates or terms, or choose to tap their home equity for cash. The question of whether

Mortgage Loans