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Escrow
A neutral third party that holds funds for property taxes and home insurance.
●Education Hub
Mortgage Academy
Master the essentials of home financing. Explore practical guidance that helps borrowers navigate terms and decisions.
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PMI
Private Mortgage Insurance protects lenders when down payment is under 20%.
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Fixed vs. ARM
Compare stable fixed-rate payments with variable adjustable-rate structures.
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DTI Ratio
Debt-to-Income ratio compares monthly debt obligations with gross income.
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Closing Costs
Final transaction fees such as appraisal, title, and settlement charges.
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Amortization
The schedule that gradually pays principal and interest over time.
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Pre-Approval
Lender-backed borrowing range based on verified financial information.
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APR
Annual Percentage Rate including fees, used to compare the true borrowing cost.
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LTV
Loan-to-Value ratio. A higher LTV lowers upfront cash but can increase lending risk.
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DTI
Debt-to-Income ratio. A key metric for approval probability and monthly affordability.
Ready to calculate your potential savings?
Use the advanced mortgage calculator to compare payment outcomes by term, rate, and down payment.
Current Avg. Rate6.72%
30yr Fixed6.15%