Why is Learning Mortgage Terminology 101 Important?Article Posted by Expert Author: Sam Stieler on 04/08/2013
How come people make so many poor choices when they sign up for their mortgage? Is it because some people are just naturally smarter and savvier than others? Or is it because the banks fill the home loan field with so much jargon it’s difficult for ANYONE to understand what they’re negotiating if they don’t first take a quick crash course in mortgage terminology 101?
What’s Covered in Mortgage Terminology 101?
Here’s the thing- you don’t need to know every single complicated and confusing term in the mortgage field to get a great deal on your home loan. You just need to know the basic terms to get by… those technical words, phrases and acronyms that pop up most often. These are the terms you’re most likely to encounter and the terms most likely to sabotage you if you don’t understand them.
Spend a couple minutes reviewing mortgage terminology 101 and you will walk into your negotiations confident and ready to grab a great loan.
We also offer useful tools for calculating a home mortgage like a calculator that factors in variables like taxes, interest rates, private mortgage insurance, homeowners insurance and more. Before you walk into a lending institution, spend a little time educating yourself on the terminology and get a good handle on the numbers so that you can get down to the business of negotiating your home loan.
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