mortgage terms

A 40-year mortgage is a long-term mortgage that allows borrowers to make payments over a period of 40...

A mortgage recast is when a lender recalculates your loan payments, considering your remaining term and current balance. To recast, lower your...

A gift letter for a mortgage is used by a lender to verify the source of the borrowers initial down payment...

No-closing-cost mortgage allows you to avoid paying closing costs upfront. You can either roll them into the mortgage or pay higher...

An increase in the federal funds rate is known as a "Fed rate hike," and it is the decision made by the US central bank, the Federal...

A mortgagor is a borrower who borrows money to purchase a property and agrees to repays over a specific...

NMLS is the licensing platform where every individual and corporate entities associated with mortgage industry to be registered...

When it comes to real estate, there are two important roles you need to know: the grantor and the grantee. These roles play a big part in buying, selling, or transferring property. In this blog, we’ll...

Conditionally approved means that the mortgage approval is almost done but would require additional documents to grant the...

Mortgage Curtailment is the additional payment made against your existing mortgage. Thus, reducing the outstanding mortgage...