Tag: mortgages

What Are Mortgage Closing Costs?

What Are Mortgage Closing Costs? Mortgage closing costs can be thought of as the fees that come due during the mortgage process at the time of closing the mortgage agreement. Such costs typically include an origination fee from the mortgage lender, third-party fees for services like appraisals, loan officer review and processing, title search, credit […]

What Are Property Taxes

What Are Property Taxes As a general definition, property taxes are imposed by governments, usually at the state and municipal levels, on real estate owned by individuals. Property taxes have been around for quite some time. Your monthly mortgage payment can be less than your yearly property tax bill in certain parts of the nation. […]

How The Consumer Financial Protection Bureau Protects Your Mortgage

How Does The Consumer Financial Protection Bureau Protect Your Mortgage? The Consumer Financial Protection Bureau (CFPB) was established in 2011 to protect consumers from unfair, deceptive, and abusive practices in the financial sector. One area of focus for the CFPB is on mortgage lenders and servicers. The CFPB sets standards for responsible lending and helps […]

What is a HELOC?

What is a HELOC? A HELOC works like a credit card: you are given an approved limit which you can borrow against at any time. The lender will review your application and determine how much they are willing to lend you based on the amount of equity in your home. Once the limit is established, […]

What Is Fannie Mae & Freddie Mac?

Fannie Mae You’ve undoubtedly heard of Fannie Mae, also known as the Federal National Mortgage Association, whether you’re in the market to purchase a home, refinance a property, or just follow the news (FNMA). Even if you’re unfamiliar with how Fannie Mae operates, you’re probably aware that it plays a large role in the housing […]