FAQ
frequently asked questions
Buying a home can be exciting. It also can be somewhat daunting, even if you’ve done it before. You will deal with mortgage options, credit reports, loan applications, contracts, points, appraisals, change orders, inspections, warranties, walk-throughs, settlement sheets, escrow accounts, recording fees, insurance, taxes...the list goes on. No doubt you will hear and see words and terms you’ve never heard before. Just what do they all mean?
The Federal Trade Commission, the agency that promotes competition and protects consumers, has prepared this glossary to help you better understand the terms commonly used in the real estate and mortgage marketplace.
The cost of a loan or other financing as an annual rate. The APR includes the interest rate, points, fees and certain other credit charges a borrower is required to pay.
The cost of a loan or other financing as an annual rate. The APR includes the interest rate, points, fees and certain other credit charges a borrower is required to pay.
The cost of a loan or other financing as an annual rate. The APR includes the interest rate, points, fees and certain other credit charges a borrower is required to pay.
The cost of a loan or other financing as an annual rate. The APR includes the interest rate, points, fees and certain other credit charges a borrower is required to pay.
The cost of a loan or other financing as an annual rate. The APR includes the interest rate, points, fees and certain other credit charges a borrower is required to pay.
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