Knowledge is power and there’s no difference when it comes to obtaining a home loan! To help you on the journey to becoming an educated borrower, we’ve created this glossary of terms you’ll need to know during your home loan process.
There are currently 4 names in this directory beginning with the letter M.
Mortgage Commitment Letter
A mortgage commitment letter outlines all of the agreed-upon terms of your loan between you and your lender.
Mortgage Insurance
Mortgage Insurance is a policy that compensates lenders or investors for any losses incurred due to the default of a mortgage loan. This typically applies to people who put less than 20% down on their home.