Your first mortgage payment is always due to your lender within 60 days of your closing date. Get more details about your first mortgage payment after closin...

If you’re staring down the possibility of foreclosure, you might have options. Learn what a deed in lieu of foreclosure is and whether it’s right fo...

A deed of reconveyance is a document that transfers the property title from the mortgage lender to the borrower. Learn more about how a reconveyance works here.

Getting a co-signer can help make homeownership possible and can be a great option, but there are some risks to the co-signer. Here’s what you need to kno...

Proof of funds (POF) is a document that shows how much money a person or entity has available. Learn more about POF letters when getting a mortgage.

Explore the difference between appraisal amount and loan amount and how the home appraisal amount affects selling price or the mortgage loan amount.

A deed of trust is an agreement between home buyers and lenders at the closing of a property. Learn about trust deeds and how they differ from mortgages.

Your debt-to-income ratio (DTI) measures your total income against any debt you have. Learn what a good DTI is, how to calculate it and how to lower it.

“Loan term” often refers to how much time it takes a borrower to pay off their mortgage when making regular payments. Learn more about loan term opt...

To qualify for some mortgages, your lender may need a letter of your intent to occupy the property. Learn what the letter should include and how to write it....

When you buy a home with a co-borrower, you typically share ownership of the loan and the home. Let’s explore the pros and cons of having a co-borrower...

Close of escrow is the point in the real estate transaction when all parties have fulfilled their responsibilities. Read on to learn how close of escrow work...

Being clear to close on a mortgage means you're almost done with the mortgage process. Learn how to become clear to close and what happens after.

Chain of title represents the complete and unbroken ownership of a property. Learn more about chain of title in real estate and why it’s important.

Defeasance clauses assure buyers that they’ll get the title once they meet all payment conditions. Learn more about the impact of defeasance on your mo...

Basis points are units of measurement that assess percentages. Learn how this financial tool can determine your mortgage cost and its potential monthly changes.

Wondering whether itemizing your mortgage interest deduction will lower your tax payment? Find out everything you should know about mortgage interest deduction.

What’s the difference between assessed value and market value? One is the home’s tax-assessed value; the other is what buyers are willing to pay....