Mortgage Basics
Application Checklist
This checklist helps you stay organized and on track for applications.
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Credit
Credit is the ability to borrow money or goods with a promise to repay later.
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Closing Costs
Closing costs are fees paid when property ownership transfers from seller to buyer.
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Appraisals
An appraisal estimates a property’s value based on location, size, condition, and market trends.
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Private Mortgage Insurance
Private Mortgage Insurance (PMI) protects lenders if a borrower defaults on mortgage payments.
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Refinance
Refinancing replaces your mortgage with a new one at better terms.
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Foreclosure
Foreclosure is when a lender takes a property after missed mortgage payments.
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$0 Down Programs
USDA
USDA program: 100% financing plus up to 2% closing costs. Income and location limits apply.
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VA Loan Program
VA loans help veterans, service members, and eligible spouses buy a home with no down payment.
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FHA Down Payment Assistance
FHA loans with down payment assistance help first-time and moderate-income buyers reduce upfront costs.
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