by RAY COLE | 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 RAY COLE | 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 RAY COLE | 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 RAY COLE | 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...
by RAY COLE | Apr 11, 2023 | Glossary of Mortgage Terms
When it comes to buying a home, a crucial step in the process is obtaining an appraisal. An appraisal is an estimate of the value of a property, conducted by a licensed appraiser who assesses the condition of the property and compares it to recent sales of similar...
by RAY COLE | Apr 10, 2023 | Glossary of Mortgage Terms
A common financial term that refers to the process of spreading out a loan or debt over a fixed period of time, typically through regular payments. It is commonly used in mortgages, auto loans, and other types of financing. Understanding the basics of amortization is...
Recent Comments