Mortgage Calculator
Download my smart phone app for a simple mortgage calculator that will give you the total monthly payment for different priced homes.
Impound Accounts
Most mortgage loans come with an impound account for paying property taxes and homeowner's insurance. Impound accounts are pre-funded at closing. And an impound (or escrow) analysis is conducted by your lender once a year.
Temporary Buydowns
A temporary buydown is a program that allows a buyer to reduce his mortgage payment the first few years of his loan.
Earnest Money Tips
When you negotiate a purchase agreement with a seller, you'll be asked to put down earnest money. Earnest money is a deposit that shows the seller you're serious. And like any money that you plan to use to purchase your home, you'll be asked to "source" your earnest money.
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.
Comparing Closing Costs
Beware! Some lenders may quote low interest rates with a high cost! Learn how to weigh points or loan fees, closing costs, and prepaid items.
What the heck is APR?
APR is the government's attempt to confuse you. Just kidding. Sorta.
Deciphering ARMs
Could an adjustable rate mortgage be right for you?
What's in a Zestimate?
A Zestimate is simply what it implies, an estimate of a home's value. The Zestimate is not an appraisal. It's not an estimate of value from a local real estate professional. And it can't always be trusted.
Large Deposits
During the mortgage process, you will be asked to document large deposits into your bank account.