Mortgage / Loan Information & Glossary
Here is a good overview of mortgage loan terms and programs. All the different loan types now available can be VERY confusing. Be sure you're working with a loan officer who is willing to explain everything to you in terms YOU understand. Sometimes loan officers speak a different language than the rest of us and they forget we aren't fluent in "loaneese". ASK them to slow down and explain mortgage terms to you in English.
Information courtesy of Paula Schneid, reprinted with permission.
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