An interest rate floor is the lowest agreed-upon rate for adjustable-rate loan products. Learn how the interest rate floor works and its impact on your loan.

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

A mortgage contingency in a purchase agreement allows you to back out of the home purchase if you can't secure financing. Learn more about how it works.

If you have a mortgage, you already have one lien on your property. However, there are other types of liens, and some can make it harder to sell the property.

Fee simple ownership provides you with full, indefinite ownership of your private property and land. Learn more about how it works and which forms exist.

An abstract of title shows all legal documentation associated with a property. Learn why an abstract of title is important in real estate.

 An appraisal contingency lets you renegotiate or walk away if a home appraises below your offer price. Learn how it works, and when waiving it may be risk...

Your mortgage payment includes principal, interest, taxes, and insurance, also known as PITI. Learn how PITI can help you budget effectively for buying a home.

If you fall behind on payments and get a foreclosure notice, all hope is not lost. The right of redemption may allow you to keep your home.

A deed in lieu of foreclosure is an option that could allow you to stay in your home and protect your credit. Here’s how it works.

A lender may charge a prepayment penalty when you pay off your mortgage early. Find out what triggers the penalty, how much it can cost, and how to avoid it.

Confused about a property tax assessment vs. market value? The two similar terms both have to do with property value, but they are determined differently.

Ready to apply for a mortgage and wondering if you should pay an origination fee? Find out how this common charge can actually save you money in the long run...

A variable interest rate changes according to a specific index and market fluctuations. Here’s how this can affect your monthly budget and long-term goals...

An automated valuation model (AVM) is a data-driven tool that estimates property values. Learn how AVMs work, how accurate they are, and when they can help.<...

A mortgage commitment letter is an important document that confirms the lender's intent to approve your application. Learn how it works and how to get one.

The Truth in Lending Act (TILA) is designed to protect borrowers from unfair lending practices through strict regulations. Here’s how it works and why it ...

A mortgage processor, or mortgage loan processor, gathers and reviews your financial documents and helps keep your mortgage moving smoothly toward closing.