Welcome to Mortgage 101. We help home buyers and realtors understand home loans. You’re in the right place if you’re thinking of buying your first home, if you’re moving to your next home, or you’re ready to refinance your existing loan.

Where Do I Start?
Figure out the finances first so you know how much house you can afford. [read more]

What is a CREDIT SCORE?
A Credit Score is a numerical grade that shows how reliably you pay your bills. [read more]

What Is Included?
A mortgage payment typically includes the loan principle and interest, taxes and insurance. [read more]

What is a MORTGAGE?
A Mortgage is a home loan that you borrow in order to purchase real estate. [read more]

Introduction to Mortgage 101
Welcome to Mortgage 101! You’ll find the answers to our most FAQ! [read more]

PRE-QUALIFY vs PRE-APPROVAL
Pre-Qualify is an informal conversation about potential loan options. Pre-Approval is a formal review for loan approval. [read more]

What is LOAN PRE-APPROVAL?
Pre-Approval is the formal review of your documents for you to acquire a home loan or mortgage. [read more]

What Documents Do I Need?
Your lender uses a list of documents to determine how much money you qualify for and each loan requires different documents. [read more]

What is MORTGAGE INSURANCE?
Mortgage Insurance is a policy that protects the lender in the event that the homeowner defaults on their home loan. [read more]

What is a HOME APPRAISAL?
A Home Appraisal is an expert opinion of the value of a home by a licensed appraiser. [read more]

What is LOAN FORBEARANCE?
Loan Forbearance is an agreement between a borrower and loan servicer to delay monthly mortgage payments. [read more]

What Determines Interest Rates?
Interest Rates are affected by many factors: current market rate, your credit score, down payment… [read more]

What is DEBT TO INCOME RATIO?
Debt to Income Ratio, or DTI, is a percentage that lenders use to determine lending risk. [read more]

What is HAZARD INSURANCE?
Homeowners Insurance (or Hazard Insurance) a policy protecting a home owner and property from a catastrophic event. [read more]

What are GIFT FUNDS?
Gift Funds are any type of no-strings-attached asset that is gifted to you in the home buying process by a relative or friend. [read more]