Resource Tools
Money Matters
– the most important part of financing is your knowledge of the options available. Consider the following questions as a basis for determining your financing needs.
How much mortgage can I afford?
What down payment is needed?
What is the difference between pre-qualification, pre-approval and approval?
What interest rates are available?
What is mortgage insurance and is it required?
What type of documentation will I need?
How do15- vs. 30-year terms compare?
What are points and do I pay them?
What is difference between a fixed rate mortgage and adjustable rate mortgage?
What closing costs will I incur?
What is being locked-in?
How long will the mortgage process take?
What is included in a mortgage payment?
What would the payments be?
When would the payments being?
