What Steps Need To Be Taken To Secure A Loan?

by | Financing:

http://fwd4.wistia.com/medias/5x2f4pp6vj?embedType=iframe&videoFoam=true&videoWidth=640You’ll see some pictures in this video to help you remember later, but the first step in securing a loan is to complete a loan application.To do so, you’ll need the...

What Is An Escrow Account? Do I Need One?

by | Title and Closing:

http://fwd4.wistia.com/medias/c28we0dcul?embedType=iframe&videoFoam=true&videoWidth=640 As we show you in this video, an escrow account is an account, established by your lender, to set aside a portion of your monthly mortgage payment to cover annual charges...

What Are Discount Points?

by | Mortgages:

Discount points allow you to lower your interest rate. While this video simplifies things to help you remember, “points” are essentially prepaid interest with each point equaling 1% of the total loan amount. Generally, for each point paid on a 30-year mortgage the...

Can I Pay Off My Loan Ahead Of Schedule?

by | Mortgages:

Usually, Yes. Like the guy in the video says, by sending in extra money each month or making an extra payment at the end of the year you can accelerate the process of paying off the loan. When you send extra money, be sure to indicate that the excess payment is to be...

What Types Of Mortgage Loans Are Available?

by | Mortgages:

This video tells you about the most common types: Fixed Rate, ARM, Balloon and 2-Step. First, Fixed Rate Mortgages: Payments remain the same for the life of the loan generally 15 years or 30 years. Interest rates remain the same, so payments are predictable. A second...

What Is A Mortgage?

by | Mortgages:

The original phrase “mort gage” translates as “death pledge”! But as this video explains, a mortgage is a loan obtained to purchase real estate. The “mortgage” itself is a lien – a legal claim on the home or property that secures the promise to pay...

What Factors Affect Mortgage Payments?

by | Mortgages:

Well, as this story shows, the amount of the down payment the size of the mortgage loan, the interest rate the length of the repayment term and payment schedule will all affect the size of your mortgage payment. In bullets: down payment loan size interest rate –...