Tag: comparing mortgage loans
Understand APR; your mortgage’s Annual Percentage Rate
When you’re in the process of applying for a mortgage loan, perhaps to buy your first house, there are a lot of terms thrown around. You might hear vernacular like “closing costs,” “Yield Spread Premiums,” and “Debt-to-Income Ratio” for the first time. There are even plentiful acronyms, like FHA, PMI, and one we’ll talk about […]