A Satisfaction of Mortgage is a legal document confirming that your mortgage loan is fully paid and officially...
Discount points, also called mortgage points, are prepaid fees paid at closing to reduce your mortgage...
A Reverse Annuity Mortgage (RAM) lets homeowners convert home equity into monthly income without selling...
A piggyback loan is a second mortgage used alongside a primary mortgage to avoid private mortgage insurance,...
An assumable mortgage allows a homebuyer to take over the seller’s existing loan under original terms,...
A Home Equity Conversion Mortgage (HECM) is a federally insured reverse mortgage allowing homeowners...
A conforming loan is a mortgage that meets the specific guidelines and loan limits set by Fannie Mae...
A Subordination Clause determines the priority of debt in lending agreements, specifying which debts...
An appraisal is a professional valuation of an asset, typically real estate or a business, that informs...
An interest-only mortgage allows borrowers to pay only the interest on their loan for a predetermined...