Explore mortgage options, get pre-approval tips, and understand interest rates, loan types, and refinancing strategies. Whether you’re buying your first home or looking to refinance, this section helps you make informed mortgage decisions.
What is Escrow? Escrows are used in other circumstances, but the most widely known types of escrows are mortgage-related. The escrow account is managed by the mortgage lender. The lender collects escrow payments from the borrower, and keeps the money in an escrow account until the tax or insurance payments are due. The lender takes … Read more
Understanding how mortgages work When you choose to finance a home, the property loan is called the mortgage. The amount of the mortgage, also known as the principal, will be determined by the price of the property, minus the down payment. A larger down payment will reduce the amount of the mortgage, and will result … Read more
Your home is a valuable asset. It can be a “forced savings” even if you haven’t made any other investments. This investment can be a safety net if you come across a need for money. It takes many years to pay down your mortgage and build up equity, but over time it can amount to … Read more
