Homeowner Education

A conforming mortgage is a one that follows the guidelines of Fannie Mae and Freddie Mac, the two government-sponsored enterprises that buy mortgages on the

When applying for a mortgage, a homebuyer may receive notice of a conditional commitment. This means the lender is willing to finance the mortgage if

A commitment fee is a fee that a lender may charge a borrower to whom it has agreed to extend credit. Generally charged for lines

A COFI mortgage is a type of mortgage on which interest is calculated based on the cost of funds index, or COFI. These mortgages have

The change frequency refers to how often a payment and/or interest rate changes in an adjustable-rate mortgage, or ARM. Also known as the adjustment frequency,

A cap, also referred to as an interest rate cap, is a risk management tool that provides protection against increasing interest rates while maintaining the

A blanket mortgage is a financial product used to fund the purchase of two or more pieces of property. It is a common option used

A biweekly mortgage is a home loan for which the buyer makes payments every two weeks instead of once a month. The amount paid is

A balloon mortgage is a loan that features consistent payment amounts with a large payoff, known as a balloon payment, due at the end of