Mortgage Terminology: Terms and phrases key to understanding the mortgage loan process. As a mortgage loan officer, sometimes it feels like I’m speaking another language to my clients, so I made this video with the most important mortgage terms to know if you’re buying or refinancing a home.
3:59 Fixed-Rate Mortgage
4:09 Adjustable-Rate Mortgage
4:23 Homeowner’s Insurance
5:03 Property Taxes
5:23 Debt to Income
5:38 Down Payment
5:53 Private Mortgager Insurance
6:39 Real Estate Agent
7:06 Earnest Money Deposit
7:59 Closing Costs
8:24 Seller Concessions
9:18 Discount Points
9:28 Title Insurance
10:13 Closing Disclosure
10:30 Free download
10:49 Watch more
And to help you out, I also put together a mortgage terminology download with all the most important mortgage terms explained. Download your copy here: https://bit.ly/3gRONOd
You can download my other cheat sheet, The Mortgage Process Overview here: https://bit.ly/30gh1wO
Let’s connect on social media:
#MortgageTerminology #MortgageEducation #StephanieWeeks
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With 16+ years of experience as a loan officer, Stephanie Weeks founder of The Weeks Team and has ranked among the top 1% loan officers in the nation several years running.
She’s closed thousands of loans totaling hundreds of millions of dollars in volume. She is passionate about helping buyers and sellers through the process of getting a mortgage, and believes getting a home loan should be an enjoyable process!
Interested in working with The Weeks Team to get a home loan?
They are your one-stop mortgage resource and would love the opportunity to serve anyone who is looking to buy, sell, or refinance residential properties in Louisiana, Arkansas, Mississippi, Alabama, and Florida.
Located in Covington, LA.
Learn more at https://www.weeksteam.com/
(Stephanie’s NML ID #97116 and the branch NMLS #49604)
Want to learn more about the process of getting a mortgage? Check out my Stephanie’s book, Mortgage Peace!
This book digests 16+ years of experience in the mortgage industry into a book you can read in less than an hour. What will all that experience teach you?
In a nutshell, it’s a summary of everything a borrower, realtor and or investor would want to know about the process to get a mortgage without hassle, problems or drama.
Things you’ll learn in Mortgage Peace include:
✔ The importance of good teamwork
✔ How to communicate successfully
✔ 5 Mistakes Borrowers Make (& how to avoid them)
✔ Types of mortgage loans
✔ Advice for selecting the best loan
✔ How to get a great rate
✔ Plus much, much more
Get Mortgage Peace in print or ebook here:
Download the Mortgage Peace audiobook here: