Mortgage basics

Featured resources

Image indicating a worried couple possibly by taxes or some other information written on the paper.

4-minute read

What is mortgage delinquency?

Concerned that you’re falling behind on your mortgage payments? Learn how to avoid mortgage delinquency, plus how to get out of it with help from your lender.

Husband and wife working on taxes together, indicating financial management or tax preparation.

5-minute read

APR vs. interest rate: What's the difference?

Interest rate and APR are terms you'll often see when comparing loans. Let's explore the details of APR vs. interest rate and why the difference matters.

An upscale kitchen with a white island bar and wall shelving, potentially depicting interior design or real estate features.

3-minute read

Understanding appraisal vs. assessment

If you’re preparing to buy a home, it’s important to understand the difference between an appraisal and an assessment. Read on to learn how they compare.

Group of people discussing mortgage options and paperwork.

8-minute read

Mortgage statements: What are they and how long should you keep them?

Some mortgage documents contain important info you should hold onto for tax purposes. But how long should you keep mortgage statements? Find the answer.

6-minute read

Energy-efficient mortgages, explained

An EEM, also known as a green mortgage, can help finance upgrades to make your home more energy-efficient. Explore EEM loan options to help save on utilities.

A couple who may have experienced a scam, potentially related to real estate or financial matters.

7-minute read

7 dangerous real estate scams and how to avoid them

Real estate scams are becoming more sophisticated. Here are 7 of the most common ones, how to spot them and what to do if you fall for one.

Loan officer reviewing mortgage paperwork with smiling couple.

5-minute read

Is a mortgage secured or unsecured debt?

Loans can be either secured or unsecured, but which is a mortgage? Find out and learn what it means when your loan is secured or unsecured.

Title endorsement, potentially discussing the process of adding endorsements to a property title.

5-minute read

Title endorsements: What they are and when you need them

A title endorsement is a modification to your title insurance policy that provides additional coverage. Learn more about title insurance endorsements here.

A foreclosed house for sale, depicting a distressed property.

5-minute read

What is a zombie foreclosure?

Zombie foreclosures demonstrate the risks of leaving before foreclosure ends. Understand these homes and their potential to resurface and create problems later.

A man sitting on a chair with his dog in front of a laptop, working comfortably from home.

11-minute read

What is a short sale in real estate? A guide to the process

A short sale happens when a homeowner in financial trouble sells their home for less than they owe on the mortgage. Learn more about the short-sale process.

A woman and child sitting on a couch, engrossed in a laptop.

6-minute read

A quick intro to the floating interest rate

A floating interest rate fluctuates over your loan’s term, changing your mortgage payment amount. Read on to learn about floating rates and how they work.

A woman using her personal computer with a satisfactory and a confident loon on her face.

5-minute read

Liens and encumbrances: What to know

Liens and encumbrances both relate to legal claims against properties. Learn how they can affect buying, owning and selling your house.

Homes in fall, portraying residential properties during the autumn season with foliage and trees.

5-minute read

Appraisal vs. inspection: A guide

Appraisals and inspections are critical steps in the home buying process. Learn how to identify the key differences in appraisals versus inspections.

Exterior view of a gray ranch-style home with a driveway and surrounding greenery.

7-minute read

What is annual percentage rate (APR) and how does it work in real estate?

Annual percentage rate (APR) is the rate your loan will accrue interest at over the repayment term. See how APR works on a mortgage and why it’s important.

Asian couple going over compound interest, potentially discussing financial investment or mortgage details.

6-minute read

What is compound interest and how is it calculated? A guide

Compound interest is the money you earn on the interest that accrues on an account, investment or loan. Learn how to calculate compound interest and more here.

A couple discussing real estate investment or mortgage with an agent.

22-minute read

Glossary of mortgage terms: Defined and explained

There are many mortgage terms to understand when you embark on the home buying process. Learn what these common mortgage terms mean.

An elderly couple possibly looking at property or mortgage paper.

5-minute read

What is a mortgage note and why is it important?

A mortgage note is a legal document that defines the terms of the loan for the borrower and lender. Learn more about mortgage notes and why they’re important.

Large countryside house, depicting a spacious home in a rural setting.

4-minute read

Mortgage par rates: What they are, how they work

A par rate is a rate charged to a borrower based on DTI and other factors. It doesn’t include discount points or other adjustments. Read on to learn more.

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