Download
a Mortgage Application
To assist you in your mortgage process, we have provided
a mortgage application for you to download and print.
Two
Key Factors in Qualifying for a Home Loan
When a lender makes a decision about a mortgage application,
they consider two basic factors: your ability and willingness
to repay the loan.
Mortgage
Terminology
A glossary of mortgage terminology.
Economic
Terminology
A glossary of economic terminology.
RESPA
(Real Estate Settlement Procedures Act)
This law protects consumers from abuses during the residential
real estate purchase and loan process and enables them
to be better informed shoppers by requiring disclosure
of costs of settlement services.
Annual
Percentage Rate (APR)
In comparing any type of loan, whether it be a fixed
rate loan to a fixed rate loan, adjustable rate loan
to adjustable rate loan or fixed rate loan to adjustable
rate loan, there is one way that can be used to compare
apples to apples and even apples to oranges.
Choosing
A Mortgage Company
When you are ready to shop for a loan, you can work
directly with a lender or with a mortgage broker representing
many individual lenders.
Your
Initial Meeting With A Lender
The loan approval process generally begins with an initial
interview where you and the mortgage professional meet
to discuss the potential loan. You will need to bring
information to verify your income and long-term debts.
After
The Mortgage Application
Your mortgage company will begin the work of verifying
all the information you've provided. This process can
take anywhere from one to four weeks, depending on the
type of mortgage you choose, whether you're buying a
home outside your local community, or a host of other
factors.
Speed
Up The Mortgage Process
Once complete, your application will be given to a processor
in the mortgage company who will organize your paperwork
and may verify your employment, bank balances, and other
information.
Escrow
Account Basics
Mortgage escrow accounts are special accounts set up
in which money is held to pay for property taxes, fire
and hazard insurance premiums, mortgage insurance premiums,
and other escrow items.
Real
Estate Transaction Forms
Mortgage Application, Good Faith Estimate, Truth in
Lending and other pdf documents.
