Standard Mortgage Blog

There are different features, benefits, and processes as it relates to  mortgage loan products. Certain loan products are designed to help provide affordable mortgage loans to homebuyers. FHA loans are an example of this type of product. While conventional loans and other government backed mortgages typically have more stringent qualification requirements, FHA programs offer benefits to provide a..

Depending on the size of your down payment or the amount of equity in your home, you may have to pay for mortgage insurance. This additional cost will increase your monthly payment. Let’s take a closer look at what private mortgage insurance, or PMI, is, how long you’ll have to pay for it, how it’s calculated, and how it can be avoided.

When you apply for a loan, your lender is required by the CFPB (Consumer Financial Protection Bureau) to give you a Loan Estimate. This is a standardized form that gives you important details about the mortgage you are applying for. This document includes all of the costs (down payment and closing costs) associated with the closing of your mortgage, interest rate and monthly payment as well as..