what is a home mortgage loan

The mortgage process can be intimidating. This article offers insight on how to navigate the home loan process, so you can get your loan.

Shopping for a Mortgage | Consumer Information – The fair housing act prohibits discrimination in. laws, a consumer may not be refused a loan based on these.

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What Is a Mortgage? Your Go-To Guide to Getting a Home Loan. – What is a mortgage? In a nutshell, a mortgage is a loan that enables you to cover the cost of a home. Since you probably don’t have hundreds of thousands of dollars lying around, a mortgage loan.

What is mortgage insurance and how does it work? – Mortgage insurance also is typically required on FHA and USDA loans. Mortgage insurance lowers the risk to the lender of making a loan to you, so you can qualify for a loan that you might not otherwise be able to get. But, it increases the cost of your loan.

Source: Freddie Mac PMMS. 20% Down Payment. Home buyers who have a strong down payment are typically offered lower interest rates. Homeowners who put less than 20% down on a conventional loan also have to pay for property mortgage insurance until the loan balance falls below 80% of the home’s value.This insurance is rolled into the cost of the monthly home loan payments & helps insure the.

Use our free mortgage calculator to quickly estimate what your new home will cost. Includes taxes, insurance, PMI and the latest mortgage rates.

A home-equity loan, also known as an “equity loan,” a home-equity installment loan or a second mortgage, is a type of consumer debt. It allows homeowners to borrow against their equity in the.