The closing point of a real estate transaction happens when the title of the property you’re applying for is officially transferred from the seller to the borrower. Closing costs include attorney fees, broker fees, title fees, and more. Depending on the type of mortgage, closing costs may or may not be included in the loan […]

No – if you are the borrower on the loan, your credit will be used to determine the applicable interest rate. You can’t mix and match, and this is true for all mortgage loans.

No – if you and your partner are both applying for a home mortgage loan, an underwriter will determine the middle score of both borrowers and use the lower of the two middle scores.

The first step is to meet with your mortgage broker. During this meeting, you can ask questions about the financial aspects of your real estate transaction, and the broker will make you aware of the variety of programs they offer to best fit your situation. Your lender should also provide you with a list of […]

If you want to take advantage of low-interest rates, you’ll need to go through the refinancing process (for more information, see here). This might make sense if the rate significantly decreases, but keep in mind that you’ll still need to pay to go through the refinancing process (including paying fees and closing costs), so it […]

A mortgage is a loan from a financial institution or bank that helps a borrower purchase a home. In exchange for the loan, you are obligated to pay the amount of money back with interest over a predetermined period of time, and your home is used as collateral to ensure this happens.