Related FAQs
Prepaid costs are payments made at closing for upcoming line items of your new home loan. They're called "prepaid" costs because you're paying for them before they are technically due. The most common kinds of prepaid costs are homeowners insurance, property taxes, and mortgage interest. These are paid into an escrow account to ensure that you have money to pay your bills when they become due. Read more
Prepaid costs are payments made at closing for upcoming line items of your new home loan. They're called "prepaid" costs because you're paying for them before they are technically due. The most common kinds of prepaid costs are homeowners insurance, property taxes, and mortgage interest. These are paid into an escrow account to ensure that you have money to pay your bills when they become due. Read more
An appraisal determines your home’s market value, helping lenders decide how much you can borrow. It’s a required step in the mortgage approval process. Read more
An appraisal determines your home’s market value, helping lenders decide how much you can borrow. It’s a required step in the mortgage approval process. Read more
Discover what a loan-to-value ratio is and how the LTV ratio is calculated. Learn how lenders use it to assess mortgage risk, home equity, and PMI requirements. Read more
Discover what a loan-to-value ratio is and how the LTV ratio is calculated. Learn how lenders use it to assess mortgage risk, home equity, and PMI requirements. Read more