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What Is Equity?

Equity is the value YOU own in property such as a house. It’s the difference between what’s OWED and what the property is WORTH in the current market…

What Is “Prime”?

The Prime Lending Rate – sometimes just called “Prime”  - is the interest rate that banks charge each other for overnight loans. Some consumer rates – like ARMs – are set in relation to Prime…

What Are Discount Points?

Discount points allow you to lower your interest rate. While this video simplifies things to help you remember, “points” are essentially prepaid interest with each point equaling 1% of the total loan amount…

How Large A Down Payment Do I Need?

There are mortgage options now available that only require a down payment of 5% or less of the purchase price. You’ll see some pictures in this video to help you remember later – the larger the down payment…

What Factors Affect Mortgage Payments?

Well, as this story shows, the amount of the down payment the size of the mortgage loan, the interest rate the length of the repayment term and payment schedule will all affect the size of your mortgage payment…