Mortgage Knowledge Center
RESOURCES
The Purchase Process
Your Path to a New Home
Get Pre-Approved
Evaluate your financing options and know your budget before starting your home search.
Find Your Home
Work with your real estate professional to find the property that fits your lifestyle and goals.
Loan Processing
Our expert team handles the paperwork, appraisals, and verification with meticulous care.
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Close & Move In
Finalize your documents and receive your keys to start your new chapter with confidence.
FREQUENTLY ASKED QUESTIONS
Common Questions
MORTGAGE GLOSSARY
Key Terms to Know
APR (Annual Percentage Rate)
The total cost of borrowing expressed as a yearly rate, including the interest rate and certain fees.
Debt-to-Income Ratio (DTI)
The percentage of your monthly gross income that goes toward paying debts. Most lenders prefer a DTI below 43%.
Escrow
An account held by a neutral third party to manage funds and documents during the home buying process.
Loan-to-Value Ratio (LTV)
The ratio of your loan amount to the appraised value of the property. Lower LTV often means better rates.
Pre-Approval
A conditional commitment from a lender for a specific loan amount, based on a review of your financial information.
Closing Costs
Fees and expenses paid at the closing of a real estate transaction, typically ranging from 2-5% of the loan amount.
Down Payment
The upfront payment made when purchasing a home, expressed as a percentage of the purchase price.
Fixed-Rate Mortgage
A mortgage with an interest rate that remains the same throughout the entire loan term.
Points
Fees paid to the lender at closing in exchange for a lower interest rate. One point equals 1% of the loan amount.
Private Mortgage Insurance (PMI)
Insurance required on conventional loans when the down payment is less than 20% of the home value.
Still Have Questions?
Speak with a dedicated mortgage professional to find the right loan solutions for your financial goals. We provide the clarity and confidence required to move forward with certainty.