Primary residence: What it means and how it affects loans

Prepaid costs are payments made at closing for upcoming line items of your new home loan. They're called "prepaid" costs because you're paying for them before they are technically due. The most common kinds of prepaid costs are homeowners insurance, property taxes, and mortgage interest. These are paid into an escrow account to ensure that you have money to pay your bills when they become due. Read more

Learn what is a survey in real estate, why it’s important, and the key reasons buyers and homeowners get a property survey before closing on their home. Read more

See which borrowers and loans qualify for the Better Mortgage Closing Guarantee. Read more