What Are Discount Points?

by | Jan 13, 2014 | Mortgages:

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. Generally, for each point paid on a 30-year...

How Large A Down Payment Do I Need?

by | Jan 13, 2014 | Mortgages:

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, the less you have to borrow and the more equity...

What Factors Affect Mortgage Payments?

by | Jan 13, 2014 | Mortgages:

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. In bullets: down payment loan size interest rate –...
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