Closing costs commonly refer to costs charged by mortgage companies and third parties. Pre-paid costs and escrows are often included in settlement fees and are frequently mistakened as closing costs, but are actually a separate classification.
Mortgages and Financing
An Overview Of Lender Paid Mortgage Insurance For PA Loans
Mortgage insurance is generally required when a home owner puts less than twenty percent down of the value of a home. It protects mortgage companies against loss should a homeowner fail to pay a loan. Even though it protects the mortgage company, it
Mortgage Approval Considerations For New Jersey Lenders
Pre-approvals will not guarantee actual loan approval. Mortgage companies perform a underwriting analysis before granting an approval. This formal process does not typically start until after real estate is identified as they must look at both the
PA No Closing Cost Mortgages Advantages And Disadvantages
No closing cost mortgages are typically interesting to buyers with few funds to bring to closing. The term is a bit misleading as there is always a cost to lending money. However, the way those costs are recouped by a mortgage company can be
PA Mortgage APR Vs. Interest Rate
When reviewing options for mortgages, you typically are presented with information on interest rate and APR. These are often misinterpreted as being synonymous, but they are very different. It is helpful for home buyers to compare both. The following