Mortgage Basics
A mortgage is the biggest loan most people ever take out. So it’s important to get the right one. Learn how mortgages work, what types are available, and what to expect from the mortgage process.
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1 Mortgage 101
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2 Important Mortgage Definitions
- Plain English guide to terms you’ll hear from your loan officer
- LTV explained: What is “loan to value” for a mortgage?
- Simple mortgage definitions: Debt-to-Income (DTI)
- What are mortgage discount points and how do they work?
- Title insurance and owner’s title insurance explained
- Escrow: What it is and how it works
- What does homeowners insurance cover, and why does your lender require it?
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3 Types Of Mortgages
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4 Mortgage Pre-Approval
- Mortgage pre-approval: The first step to buying a home
- What are your chances of mortgage approval? Your down payment and credit score make a big difference
- Should you get pre-qualified or pre-approved? What’s the difference? [Video]
- How long does it take to get pre-approved for a mortgage? [VIDEO]
- How long does pre-approval for a mortgage last?
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5 How To Apply For A Mortgage
- Applying for a mortgage? Do these 5 things first
- How to apply for a mortgage: Your documentation checklist
- Bank statements: 3 things mortgage lenders don’t want to see
- Before applying for a mortgage with your bank, read this
- How to get an online mortgage
- Should you apply for a mortgage online? Pros and cons of digital mortgages
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6 Mortgage Costs And Fees
- How much is a mortgage?
- The average down payment on a house & when to put down more or less money
- Mortgage insurance cost versus benefits: Should you pay for PMI?
- What is PITI? Mortgage payments explained
- Earnest money check, down payment and closing costs: When are they due?
- Guide to mortgage closing costs: Average closing costs and how to keep yours low
- Seller concessions: How a seller can pay your closing costs
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7 How To Shop For A Mortgage
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8 The Mortgage Loan Process
- The mortgage loan process explained in 9 steps: From pre-approval to closing day
- My mortgage is in “processing.” What does a mortgage loan processor do?
- Mortgage process: What does “submission to underwriting” mean?
- What does “underwriting” mean? How to deal with loan conditions
- Final approval from the underwriter: What happens next?
- Background check: Verbal verification of employment and other intrusions
- How to decipher the stack of mortgage loan disclosures from your lender
- What happens when I’m “clear to close”?
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9 Closing On A Home Loan
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