Mortgage basics

Featured resources

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5-minute read

Get a leg up on the competition with Verified Approval

A Verified Approval allows you to confidently make an offer knowing that your financing is rock solid. Read on for details!

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5-minute read

Freddie Mac: What is the Federal Home Loan Mortgage Corporation (FHLMC)?

Freddie Mac is a government-sponsored agency charged with keeping mortgage markets liquid. Learn more about FHLMC – and how it impacts home buyers and ...

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8-minute read

Gift letters for your mortgage: A guide

A gift letter for a mortgage shows your lender that you don’t need to repay gift money toward your down payment. Use our mortgage gift letter template and...

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4-minute read

Fee simple: What is it in real estate and how does it work?

Fee simple refers to a landowner’s absolute ownership of real property. Read our article to learn about how fee simple determines real estate or land o...

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4-minute read

What is fair market value (FMV) in real estate and how is it calculated?

Fair market value (FMV) in real estate is an assessment of a property's worth in an open market. Learn how FMV is calculated and what it's used for.

An image capturing a father and his child huddled closely together, both focused intently on a piece of paper laid out before them. The father, pencil in hand, is writing on the paper, while the child watches with interest.

4-minute read

What is the power of sale in a mortgage note, and how does it affect foreclosure proceedings?

The power of sale allows a lender to sell a home – without judicial review – if a borrower defaults on a mortgage. Learn more about how the power...

A couple pointing at a laptop, suggesting discussions or decisions related to real estate or finances.

6-minute read

How to shop for a mortgage: 5 steps

Planning to buy a house? One of the first steps in the process is securing a home loan. Learn how to shop for a mortgage and find the best rate here.

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9-minute read

How to get the best mortgage rate: 9 tips

Home buyers can get the lowest mortgage rate available, even when market rates are trending high. Uncover 9 tips for how to get the best mortgage rate.

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5-minute read

Guide to Form 1098 mortgage interest statement

Did you know your mortgage interest and insurance payments may be tax deductible? Read on to better understand what’s in your 1098 mortgage interest st...

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8-minute read

Selling a house with a mortgage: A guide

Selling your home while you’re still paying off your mortgage can be difficult to navigate. Learn how to prepare to sell your house and pay off your mo...

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7-minute read

CARES Act mortgage forbearance: FAQs and updates

The CARES Act provides mortgage forbearance and other relief to those suffering from the effects of the COVID-19 pandemic. Read on for updates on the CARES A...

6-minute read

Tenancy by entirety: Defined and explained

Tenancy by entirety allows married couples to each own 100% of the property – as one entity. Learn more about the benefits and drawbacks of this type o...

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7-minute read

Mortgage rate lock: A guide to protect you from rate fluctuations

A mortgage rate lock prevents changes to your interest rate as you prepare to close. Learn about the steps you can take to lock in your mortgage rate.

A man researching on a computer, likely conducting real estate or financial research online.

8-minute read

What Is PITI? Its meaning and what it stands for

PITI stands for principal, interest, taxes and insurance. Learn how each component of PITI affects your mortgage payment, and how to calculate each factor.

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4-minute read

Property title search: What it is and how it works

A property title search examines public records to confirm a property’s rightful, legal owner. See how title searches work and reasons to be aware of them...

A residential neighborhood with multiple houses, showing a suburban or urban living environment.

7-minute read

What are easements and how can they affect my property?

Easements grant non-property owners limited access to a part of your property. Learn the different types of easements and how they can affect your property.<...

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5-minute read

What is an encumbrance in real estate?

An encumbrance is a claim against a property by someone who isn’t the property owner. Discover how encumbrances can affect how you can use your property.

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8-minute read

Proof of funds: What is a POF letter in real estate?

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.

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