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Financing Costs Menu
Closing Costs - a snapshot of HUD-1 settlement costs you are likely to incur in the mortgage process. These are typical items and some items may not apply to your transaction.
No Closing Cost Loans - A no closing cost out of pocket option can work extremely well.
Calculating the Finance Charge - What costs are included in the finance charge as shown in the Truth -In- Lending Disclosure as required by Regulation Z.
Costs and Fees Which are not Finance Charges- Types of charges are excluded from the finance charge.
"Junk" Loan Fees - What are they?
Refinance Costs - With a new refinance loan, you again pay most of the same costs you paid to get your original mortgage.
Understanding the APR - Although it is intended as a tool that will enable consumers to understand the cost of credit and to compare the cost of loans offered by different creditors, the annual percentage rate can create confusion.
Mortgage Application Fees - As with nearly everything associated with purchasing a new home, fees may also be applied to the loan application.
Points - Points are up front mortgage interest fees paid on a loan to but down the interest rate or originate the loan. 1 point = 1%.
No-Lender Fees - Mortgages First has made comparing and shopping for a home loan easier. With our no lender fees mortgage loan program, you know what you're paying for up-front with Mortgages First. Rates on these loans are marginally higher as the lender has to recapture the administrative costs associated with originating the loan. A good alternative for the borrower who does not mind the rate differential and has limited funds to close.
Rate Lock Basics - A lock in, also called a rate lock or rate commitment, is a lender's promise to hold a certain interest rate and a certain number of points for you, usually for a specified period of time, while your loan application is processed. Depending upon the lender, you may be able to lock in the interest rate and number of points that you will be charged when you file your application, during processing of the loan, when the loan is approved, or later.
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Nationwide Lending mortage 1009 Staghorn Lane, Stroudsburg, PA 18360
1-570-402-1086 Fax: 1-570-992-8853 8 am to 6 pm ESTCopyright 1998- 2007 Mortgages First Associates. All rights reserved.
