It can be hard to get a loan. Whether it’s a mortgage, a student loan, an auto loan, or even a credit card, getting a loan can be difficult. And…
Tag: mortgage
Underwriting is the process a lender undergoes to determine if a potential loan is an acceptable credit risk i.e. is the borrower likely to repay the loan? An underwriter will look…
A mortgage is just a loan, specifically for the purpose of buying a home. There are lots of different types of mortgages, options that are offered, and details to keep…
A down payment is the amount of money you pay up front when buying something with a loan; like a car or in this case, a home. Here’s a quick…
PMI, or private mortgage insurance, is a type of insurance that protects the mortgage lender in the event of default or foreclosure and is usually required if you put LESS than…
Realtor. Real estate agent. Real estate broker. If you’re planning on buying a house you’ll probably hear all of these and maybe more. Trying to understand who everyone involved in…
Secured debt is a loan backed by assets (collateral), such as a home or car which “secures the loan” with an item that the lenders can take ownership of and…
Life insurance is a financial tool that provides a death benefit to your named beneficiary in exchange for premium payments to the insurance company. While it’s not always easy to…