Skip to content

Mortgage Guide

All the information you need to buy a home.

    Featured tools

    HTML, CSS and JavaScript demo
    Chicago real estate transfer tax calculator

    Real Estate Transfer Tax Calculator | Chicago metro area

    Real estate transfer taxes are fees that the state, counties, and local municipalities charge buyers and sellers when transferring property ownership. Use our real estate transfer..

    Read more

    Seller Credit Mortgage Purchase NewCastle Home Loans

    Seller Credit | Can the seller pay the homebuyer's closing costs?

    Sellers can pay the buyer's closing costs. A seller credit is a sum of money the property seller agrees to give the homebuyer at closing. The buyer can use the credit to pay..

    Read more

    mortgage rate lock

    Mortgage Rate Lock | How do rate locks work?

    Interest rates fluctuate. A mortgage rate lock freezes your interest rate for a set time, protecting you if it rises. As a result, you know how much your loan will cost before..

    Read more

    principal residence, second home, investment property

    Principal residence, second home, or investment property?

    "Occupancy" refers to how you will use the property you plan to buy. Will it be your principal residence, second home, or investment property? Whether or not you will live there..

    Read more

    Mortgage Discount Points Calculator Jim Quist NewCastle Home Loans

    Mortgage Discount Points | Calculator

    Paying mortgage discount points is a way to lower your interest rate. You pay a lump sum at closing in exchange for a lower interest rate on your home loan. Points allow you to..

    Read more

    Earnest money deposit NewCastle Home Loans Jim Quist

    Earnest Money | How it works when buying a home

    Earnest money shows sellers you're interested in buying their house. It's a small amount, like 1% to 3% of the house price, that you deposit upfront when offering to buy the..

    Read more

    PITI Mortgage Calculator NewCastle Home Loans

    What does PITI mean? PITI mortgage calculator

    PITI stands for Principal, Interest, Taxes, and Insurance. The term refers to the components of your monthly housing expense.

    Read more

    Mortgage homeowner's insurance

    Homeowners Insurance | How much do you need for a mortgage?

    When buying a home, you must purchase a homeowner's insurance policy that meets the lender's requirements. Homeowner's insurance protects you and the lender in an accident or..

    Read more

    Prepaid items mortgage escrow account

    How much are prepaid items & mortgage escrow?

    Prepaid items are homeowner’s insurance, mortgage interest, and property taxes you pay at closing when you buy a home. In this article, I'll explain how to estimate the money..

    Read more

    What's the difference between mortgage interest rate and APR?

    Because the APR represents the overall cost of your mortgage, it should make it easier for you to compare loan offers to find the best deal on your mortgage. However, APR can vary..

    Read more

    mortgage loan purpose newcastle home loans

    Loan Purpose | How loan purpose affects your mortgage rate

    When applying for a mortgage, the first question on the mortgage application is, "what is the loan's purpose?" You have two options, purchase or refinance. I'll explain how the..

    Read more