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Mortgage Guide

All the information you need to buy a home.

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    Down Payment on a house. How much?

    Down Payment | How much for a down payment on a house?

    If you're thinking about buying a home, you should know you have choices regarding a down payment. The popular belief is that homebuyers need 20% of the property's purchase price...

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    Seller closing cost credit. How to get the seller to pay closing costs when buying a home.

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

    Sellers can pay the buyer's closing costs. It's called a seller or closing costs credit when the sellers of a property agree to credit a sum of money to the buyer at closing time...

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    What does PITI mean? How to calculate PITI?

    What does PITI mean? How to calculate PITI

    PITI is an acronym for Principal, Interest, Taxes, and Insurance. Mortgage lenders use it to describe the four main components of a mortgage payment:

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    Earnest money buying a home

    Earnest Money | How it works when buying a home

    Earnest money is a deposit made by you, the homebuyer, to demonstrate that you are serious about purchasing a property. The earnest money is held in escrow and applied toward the..

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    mortgage discount points

    Should you pay mortgage discount points for a lower rate?

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

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    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..

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    Prepaid items mortgage escrow account

    How much are prepaid items & mortgage escrow?

    Prepaid items or prepaid costs 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..

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    mortgage interest rate lock

    Mortgage Rate Lock | How an interest rate lock works

    Like stock prices, mortgage interest rates constantly change. By locking in, you freeze the lender's rate and origination charges. As a result, you know how much your loan will..

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    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..

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    principal residence, second home, investment property

    Principal residence, second home, or investment property?

    When you buy a new home, who lives there will help determine how much your mortgage will cost.

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