What is a conforming loan?
A conforming loan is a mortgage that is eligible for purchase by the two major federal agencies, Fannie Mae and Freddie Mac. In order to ...
What is a jumbo mortgage?
Jumbo mortgages have loan amounts that exceed the conforming limits set by the Federal Housing Finance Agency (FHFA). A jumbo loan is one way to ...
What are mortgage points?
The interest rate can make or break the affordability of a mortgage. One way to get a lower rate and save money on your loan ...
What is a rate lock?
A mortgage loan rate lock is a contractual agreement between the lender and buyer. It means that your interest rate won’t change during loan processing, ...
What is a Good Faith Estimate / Loan Estimate?
A Loan Estimate (previously known as Good Faith Estimate) tells you important details about a mortgage loan you have requested. When you apply for a ...
What’s the difference between a mortgage broker and a lender?
Mortgage brokers deal with multiple lenders and can shop for the best terms available on any given day to match you with the best lender ...