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Mortgage Basics
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mortgage
Mortgage Basics: Table of Contents

Chapter 1: Should you buy or rent?

There's no easy answer. Emotions, family and personal reasons all come into play in any home buying decision.

Chapter 2: How mortgages work

You can get a mortgage in many places, but they all share the same characteristics. We explain.

Chapter 3: Your mortgage payment

Your monthly payment is determined by the rate and the amount of the loan, but there's much more to it.

Chapter 4: Paperwork and fees

Prepare to gather a lot of paperwork, negotiate your loan terms and make sense of all the fees.

Chapter 5: Underwriting

You can help speed the verification of your information while the appraisal and inspection are done.

Chapter 6: Closing

The closing table is your last chance to alter the deal, and the last chance for someone to sneak something past you.

Chapter 7: Ownership, after closing

You have the keys, but you're not done. Your mortgage needs periodic maintenance, too.
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David McMillin

CFPB slaps Flagstar Bank with $37.5 million fine

Michigan-based Flagstar Bank is paying the price for failing to help homeowners and breaking the Consumer Financial Protection Bureau's new mortgage-servicing rules.  ... Read more

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