Let's Talk Pay Stubs
One of the first documents your lender will want to see are pay stubs reflecting the most recent 30 days of income.
Let's Talk Tax Returns
As part of the pre-approval (or approval) process, your mortgage lender will ask to see your tax returns. This is what they want to see!
What is title insurance?
Title insurance usually protects against errors or omissions in deeds, mistakes in examining records, fraud, forgery, undisclosed heirs and spousal claims. Ultimately the policy protects the owner and lender from the possibility that the seller (or previous sellers) couldn't rightfully sell the property.
What happens during the appraisal?
The primary purpose of the appraisal is to determine the value of a property using similar properties called "comparables."
What are Points?
It's not the interest rates that change every day. It's the price you pay to get a particular interest rate that changes.
What the heck is APR?
APR is the government's attempt to confuse you. Just kidding. Sorta.