February 2010

Mortgage Glossary

February 25, 2010

Adjustable Rate Mortgage (ARM) A mortgage in which the interest rate is adjusted periodically based on a pre-selected index and margin. Amortization Means of loan payment by equal periodic payments calculated to pay off the debt at the end of a fixed period, including accrued interest on the outstanding balance. Annual Percentage Rate (APR) The […]

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Junk Fees

February 25, 2010

A junk fee is a term defining “extra” fees, which are charged to the client at closing.  It is important to know that you may be able to negotiate these fees down or have them removed if they have not been properly disclosed to you. The Loan officer is required to provide you with a […]

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Credit Score

February 25, 2010

Click Here – Mortgage Atlanta’s free guide to your credit score! One of the main factors loan specialists look at when considering your loan application is your credit score.  Mortgage companies want to know about your credit history, and determine the probability that you are able to pay back the loan you are applying for.  […]

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Points

February 25, 2010

The first question clients normally ask is are they any points associated with my loan.  With the advent of the NEW GOOD FATIH ESTIMATE (GFE) origination costs are now even more understood.  Points are nothing other than a tool your loan officer can use to make sure you are getting the most “bank for your […]

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Purchase Contract Guide

February 25, 2010

Home purchase can be become much more complex than the average individual expects.  Certain aspects of the contract can have a significant impact not only on the success of your purchase transaction, but on your stress level as well. Below are some of the important items you should be aware of, that require you to […]

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