Category Archives - home mortgage

understanding closing costs

Understanding Mortgage Closing Costs

All home purchase and refinance mortgage transactions have closing costs. Closing fees and costs are any costs and charges that the borrower incurs during the home purchase and/or refinance transactions. What Are Mortgage Closing Costs? If you’re taking out a mortgage to buy a home, you can expect to have to pay closing costs. These…

Mortgage Guidelines on Non-Occupying Co-Borrower

Mortgage Guidelines on Non-Occupying Co-Borrower?

FHA and Conventional loans are the two most popular home mortgage programs in the nation that allow non-occupant co-borrowers to be added to the main borrower on a home purchase and/or refinance mortgage. There are three government-backed mortgages: FHA loans VA loans USDA loans Government-backed mortgages are for owner-occupant homes only. You cannot finance second…

What is a Loan Estimate

Loan Estimate and Closing Disclosure Timeline

This Article Is About The Loan Estimate And Closing Disclosure During The Mortgage Process The Loan Estimate And Closing Disclosure are the two most important documents in the mortgage application and approval process. The Loan Estimate commonly referred to as the LE has replaced the old Good Faith Estimate (GFE). The Closing Disclosure is commonly…