by Steve | Apr 15, 2023 | Glossary of Mortgage Terms
A cash-out refinance is a type of mortgage refinance that allows homeowners to access the equity in their homes and receive a cash payout. In a cash-out refinance, the homeowner refinances their existing mortgage for more than they owe and receives the difference in...
by Steve | Apr 14, 2023 | Glossary of Mortgage Terms
When you’re buying a home, “cash to close” is a term you’ll hear often. It refers to the amount of money you’ll need to bring to the closing table to complete the transaction. In this article, we’ll explain what “cash to...
by Steve | Apr 13, 2023 | Glossary of Mortgage Terms
When you’re in the process of buying a home, you’ll probably come across the term cash reserve at some point. It’s an amount of money that you set aside in addition to your down payment and closing costs when you take out a mortgage. Purpose of Cash...
by Steve | Apr 12, 2023 | Glossary of Mortgage Terms
When you’re in the process of getting a mortgage or trying to understand the financial terms associated with it, you may come across the term “basis points.” Understanding what basis points mean can help you make more informed decisions about your...
by Steve | Apr 12, 2023 | Glossary of Mortgage Terms
Appreciation is a term used in the mortgage industry to describe the increase in value of a property over time. In other words, it’s the amount by which the value of a property has grown since it was purchased. Appreciation Concept Appreciation is a key concept...
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