All About Mortgages
- Getting a Mortgage
- Getting a Mortgage Checklist
- Different Types of Mortgages
- First-Time Home Buyer Perks
- How Do Mortgages Work?
- How Does Escrow Work?
- Shopping for a Mortgage (Lenders)
- What Are Points?
- What Are Real Estate Taxes?
- What Happens at the Closing?
- What Is Private Mortgage Insurance (PMI)?
- What's a Purchase and Sale Agreement?
- Why Did They Sell My Mortgage?
Learn About Mortgages
Taking on a mortgage to pay for a new home is a major milestone. However, the process and paperwork can be overwhelming if you're uncertain about how mortgages work or what to look for when shopping for lenders. At FinancialFit, we cover mortgage basics with various tips and tools so future homeowners can organize and prepare for every part of the process.
Navigating home-financing options can be tricky. To help consumers learn about mortgages and make smart choices, FinancialFit offers helpful tips and checklists covering everything from understanding escrow to figuring out real estate taxes and the closing process. Our lessons also provide detailed information about:
- Mortgage Types: From conventional and government-insured home loans to fixed- and adjustable-rate options, our tips and financial lessons help consumers compare their options when getting a mortgage.
- Private Mortgage Insurance (PMI): Some mortgages require PMI, which protects lenders if borrowers stop making payments. The amount of your down payment, type of home loan, and other factors determine whether a lender requires PMI for your mortgage.
- Purchase & Sale Agreements (PSA): Once a buyer and seller settle on a purchase price, a PSA outlines and defines the details of the agreement, including terms, contingencies, and a closing date. Knowing what this document covers—and what it doesn't—is a crucial part of the home-buying process.
Insights on how mortgage points affect interest rates or why lenders sell mortgages help future homeowners make smart decisions and anticipate changes down the line. Whether you're saving for a down payment or ready to find a lender, FinancialFit's informative tips and mortgage checklists help homebuyers organize and prepare for every step along the way.