What is the Truth in Lending Act?
The Truth in Lending Act is a federal law designed to promote transparency in the loan [...]
What’s a Rate Lock?
A rate lock is the amount of money owed in a mortgage. The rate lock is [...]
What is a Mortgage Lender?
A mortgage lender is an entity that loans money to purchase real estate. A mortgage lender [...]
What is a Second Mortgage?
A second mortgage is a secondary mortgage on a piece of property. A second mortgage allows [...]
Can you get a Mortgage with a Previous Bankruptcy?
Yes. Even if you've filed for bankruptcy in the past, you can request a loan through [...]
What Happens if you Default on a Mortgage?
If you fail to make requisite payments, which is called defaulting on your mortgage, the lender [...]
What is an Escrow Account?
An escrow account is essentially an automatic monthly payment system designed for managing property taxes. It [...]
What are Discount Points?
Discount points are portions of a loan that you can pay to a lender to reduce [...]
What do Monthly Payments Include?
The principal of the loan and interest rates form the bulk of your monthly payments. Mortgage [...]
Is there a Difference Between Interest Rate and Annual Percentage Rate (APR)?
Yes. The interest rate is the amount of money you owe, determined on a monthly basis, [...]
