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What is a Mortgage Note?
Read more…: What is a Mortgage Note?A mortgage note, also known as a real estate lien note, is a signed legal document. By signing, one agrees to repay the loan amount as well as any interest that accrues within a specified amount of time. The interest rate is predetermined. When you take out a real estate loan, you will also need…
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How are mortgage interest rates determined?
Read more…: How are mortgage interest rates determined?Mortgage rates are determined by the Wall Street Prime rates. When the economic outlook is good, rates tend to increase, and rates fall when it’s not so great. It seems somewhat backward, but here’s the reasoning: When the economy is doing well, borrowers can afford more. This affects the market for mortgages, which results in…
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What are the closing costs for my mortgage?
Read more…: What are the closing costs for my mortgage?The specific amount of your closing costs varies by situation. Appraisal fees, title charges, and closing fees may all vary from state to state and from lender to lender. To evaluate your closing fees, we’ve created three categories of which you should remain aware: Third-party fees Taxes and other unavoidable costs Lender fees Third-Party Fees…
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How much will it cost me to refinance my first mortgage?
Read more…: How much will it cost me to refinance my first mortgage?To calculate the cost of refinancing your first mortgage use one of our Financial Calculators or speak with one of our representatives for assistance.
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