<?xml version="1.0" encoding="UTF-8"?><rss version="2.0"
	xmlns:content="http://purl.org/rss/1.0/modules/content/"
	xmlns:wfw="http://wellformedweb.org/CommentAPI/"
	xmlns:dc="http://purl.org/dc/elements/1.1/"
	xmlns:atom="http://www.w3.org/2005/Atom"
	xmlns:sy="http://purl.org/rss/1.0/modules/syndication/"
	xmlns:slash="http://purl.org/rss/1.0/modules/slash/"
	>

<channel>
	<title>Key Mortgage Terms Archives - Bundle</title>
	<atom:link href="https://bundleloan.com/category/key-mortgage-terms/feed/" rel="self" type="application/rss+xml" />
	<link>https://bundleloan.com/blog/category/key-mortgage-terms/</link>
	<description></description>
	<lastBuildDate>Mon, 21 Jun 2021 18:34:51 +0000</lastBuildDate>
	<language>en-US</language>
	<sy:updatePeriod>
	hourly	</sy:updatePeriod>
	<sy:updateFrequency>
	1	</sy:updateFrequency>
	<generator>https://wordpress.org/?v=6.3.5</generator>

<image>
	<url>https://bundleloan.com/blog/wp-content/uploads/2021/02/favicon.png</url>
	<title>Key Mortgage Terms Archives - Bundle</title>
	<link>https://bundleloan.com/blog/category/key-mortgage-terms/</link>
	<width>32</width>
	<height>32</height>
</image> 
	<item>
		<title>Loan Officer</title>
		<link>https://bundleloan.com/blog/loan-officer/</link>
		
		<dc:creator><![CDATA[Eric Mager]]></dc:creator>
		<pubDate>Sun, 13 Oct 2019 21:14:08 +0000</pubDate>
				<category><![CDATA[Homebuyer]]></category>
		<category><![CDATA[Key Mortgage Terms]]></category>
		<guid isPermaLink="false">https://bundleloan.com/blog/?p=505</guid>

					<description><![CDATA[<p>A loan officer is a representative of a financial institution who helps borrowers acquire a mortgage loan. They are the borrower’s primary contact with the bank. These representatives may also have different titles such as mortgage broker or mortgage consultant.</p>
<p>A loan officer will help determine how much of a mortgage you can be approved for. They can help you sort through options, explain some of the complex terminology. A good one will recommend a mortgage and loan amount that &#8230;</p>
<p>The post <a href="https://bundleloan.com/blog/loan-officer/">Loan Officer</a> appeared first on <a href="https://bundleloan.com/blog">Bundle</a>.</p>
]]></description>
		
		
		
			</item>
		<item>
		<title>Loan Estimate</title>
		<link>https://bundleloan.com/blog/loan-estimate/</link>
		
		<dc:creator><![CDATA[Eric Mager]]></dc:creator>
		<pubDate>Sun, 13 Oct 2019 20:47:06 +0000</pubDate>
				<category><![CDATA[Homebuyer]]></category>
		<category><![CDATA[Key Mortgage Terms]]></category>
		<guid isPermaLink="false">https://bundleloan.com/blog/?p=497</guid>

					<description><![CDATA[<p>A Loan Estimate is a three-page form you receive from a lender after applying for a mortgage. This will detail important information such as your estimated interest rate, monthly payment, and total closing cost of your mortgage loan. You can find a great example <a href="https://www.consumerfinance.gov/owning-a-home/loan-estimate/" rel="noopener noreferrer" target="_blank">here</a>.</p>
<p>You should review your loan estimate carefully. Hold on to the form and so you can compare it to your <a href="https://www.consumerfinance.gov/owning-a-home/closing-disclosure/" rel="noopener noreferrer" target="_blank">Closing Disclosure</a>. You&#8217;ll receive your closing disclosure at least three days before you &#8230;</p>
<p>The post <a href="https://bundleloan.com/blog/loan-estimate/">Loan Estimate</a> appeared first on <a href="https://bundleloan.com/blog">Bundle</a>.</p>
]]></description>
		
		
		
			</item>
		<item>
		<title>Lender Credit</title>
		<link>https://bundleloan.com/blog/lender-credit/</link>
		
		<dc:creator><![CDATA[Eric Mager]]></dc:creator>
		<pubDate>Sun, 13 Oct 2019 20:29:20 +0000</pubDate>
				<category><![CDATA[Homebuyer]]></category>
		<category><![CDATA[Key Mortgage Terms]]></category>
		<guid isPermaLink="false">https://bundleloan.com/blog/?p=491</guid>

					<description><![CDATA[<p>A lender credit is an amount that decreases the upfront costs of your mortgage but will likely result in a higher interest rate.</p>
<p>You&#8217;re able to see lender credits on the 2nd page of the Loan Estimate. You can use the credit to pay loan costs or to fund your escrow account, but you can&#8217;t use it for your down payment.</p>
<p>It&#8217;s important understand that a lender credit is not free. Think of it as a trade for a higher &#8230;</p>
<p>The post <a href="https://bundleloan.com/blog/lender-credit/">Lender Credit</a> appeared first on <a href="https://bundleloan.com/blog">Bundle</a>.</p>
]]></description>
		
		
		
			</item>
		<item>
		<title>Interest Rate</title>
		<link>https://bundleloan.com/blog/interest-rate/</link>
		
		<dc:creator><![CDATA[Eric Mager]]></dc:creator>
		<pubDate>Sat, 12 Oct 2019 23:13:38 +0000</pubDate>
				<category><![CDATA[Homebuyer]]></category>
		<category><![CDATA[Key Mortgage Terms]]></category>
		<guid isPermaLink="false">https://bundleloan.com/blog/?p=488</guid>

					<description><![CDATA[<p>An interest rate is a percentage of a loan amount charged by a lender for the borrower to use the lender’s money. Interest is the primary cost of your mortgage.</p>
<p>Interest rates are typically shown as an annual number. A 4% interest rate means you will pay 4% of your loan amount to the lender over the course of a year. </p>
<h3>A Simple Interest Rate Example</h3>
<p>If you borrow $100 from a friend for one year, at a 4% interest &#8230;</p>
<p>The post <a href="https://bundleloan.com/blog/interest-rate/">Interest Rate</a> appeared first on <a href="https://bundleloan.com/blog">Bundle</a>.</p>
]]></description>
		
		
		
			</item>
		<item>
		<title>Homeowners Association (HOA) Fees</title>
		<link>https://bundleloan.com/blog/homeowners-association-hoa-fees/</link>
		
		<dc:creator><![CDATA[Eric Mager]]></dc:creator>
		<pubDate>Thu, 10 Oct 2019 20:21:55 +0000</pubDate>
				<category><![CDATA[Homebuyer]]></category>
		<category><![CDATA[Key Mortgage Terms]]></category>
		<guid isPermaLink="false">https://bundleloan.com/blog/?p=484</guid>

					<description><![CDATA[<p>Homeowners association (HOA) fees are fees that some neighborhoods charge each resident to help the community maintain and improve common grounds such as playgrounds, swimming pools, and tennis courts.</p>
<p>It&#8217;s important to include these fees in your monthly budget. Large Homeowners Association fees can limit the amount of home you can afford. If you are looking at homes that cost $250,000 and you find one that has a $250 monthly HOA fee, that home may be out of your price &#8230;</p>
<p>The post <a href="https://bundleloan.com/blog/homeowners-association-hoa-fees/">Homeowners Association (HOA) Fees</a> appeared first on <a href="https://bundleloan.com/blog">Bundle</a>.</p>
]]></description>
		
		
		
			</item>
		<item>
		<title>Foreclosure</title>
		<link>https://bundleloan.com/blog/foreclosure/</link>
		
		<dc:creator><![CDATA[Eric Mager]]></dc:creator>
		<pubDate>Wed, 09 Oct 2019 19:16:44 +0000</pubDate>
				<category><![CDATA[Homebuyer]]></category>
		<category><![CDATA[Key Mortgage Terms]]></category>
		<guid isPermaLink="false">https://bundleloan.com/blog/?p=481</guid>

					<description><![CDATA[<p>Foreclosure is a process in which a lender takes ownership of a property if the borrower of a mortgage fails to keep up with their monthly mortgage payments.</p>
<p>Foreclosure is usually a last resort for banks after other alternatives our exhausted. </p>
<h3>Working with the Home Owner</h3>
<p>If a home owner misses a payment, the bank starts the process of working with the home buyer to get everything in order. At first this may be a simple reminder &#8211; a phone &#8230;</p>
<p>The post <a href="https://bundleloan.com/blog/foreclosure/">Foreclosure</a> appeared first on <a href="https://bundleloan.com/blog">Bundle</a>.</p>
]]></description>
		
		
		
			</item>
		<item>
		<title>Escrow</title>
		<link>https://bundleloan.com/blog/escrow/</link>
		
		<dc:creator><![CDATA[Eric Mager]]></dc:creator>
		<pubDate>Wed, 09 Oct 2019 18:46:36 +0000</pubDate>
				<category><![CDATA[Homebuyer]]></category>
		<category><![CDATA[Key Mortgage Terms]]></category>
		<guid isPermaLink="false">https://bundleloan.com/blog/?p=477</guid>

					<description><![CDATA[<p>The term escrow can refer to two completely different things when you are buying a house. As if the process isn&#8217;t complicated enough! The first relates to your earnest money and the second relates to hazard insurance and property taxes.  </p>
<h3>The basic Definition</h3>
<p>Escrow is a process used to regulate payments between two parties. A trusted third party holds the transaction amount until all terms of the agreement are met by both parties, then releases the payment amount to the &#8230;</p>
<p>The post <a href="https://bundleloan.com/blog/escrow/">Escrow</a> appeared first on <a href="https://bundleloan.com/blog">Bundle</a>.</p>
]]></description>
		
		
		
			</item>
		<item>
		<title>Discount Points</title>
		<link>https://bundleloan.com/blog/discount-points/</link>
		
		<dc:creator><![CDATA[Eric Mager]]></dc:creator>
		<pubDate>Wed, 09 Oct 2019 18:03:07 +0000</pubDate>
				<category><![CDATA[Homebuyer]]></category>
		<category><![CDATA[Key Mortgage Terms]]></category>
		<guid isPermaLink="false">https://bundleloan.com/blog/?p=472</guid>

					<description><![CDATA[<p>Discount points are fees home buyers pay at closing for a lower mortgage interest rate. One point equals 1% of the loan amount. Banks typically can offer lower interest rates if the home buyer is willing to pay more upfront.</p>
<h3>Here&#8217;s an Example</h3>
<p>Let&#8217;s say you are shopping around for your mortgage and a loan officer quotes you 4.00% on a $200,000 with no discount points. You can ask them for a lower interest rate, but this isn&#8217;t free! They &#8230;</p>
<p>The post <a href="https://bundleloan.com/blog/discount-points/">Discount Points</a> appeared first on <a href="https://bundleloan.com/blog">Bundle</a>.</p>
]]></description>
		
		
		
			</item>
		<item>
		<title>Debt to Income (DTI)</title>
		<link>https://bundleloan.com/blog/debt-to-income-dti/</link>
		
		<dc:creator><![CDATA[Eric Mager]]></dc:creator>
		<pubDate>Tue, 08 Oct 2019 21:03:14 +0000</pubDate>
				<category><![CDATA[Homebuyer]]></category>
		<category><![CDATA[Key Mortgage Terms]]></category>
		<guid isPermaLink="false">https://bundleloan.com/blog/?p=463</guid>

					<description><![CDATA[<p>When you buy a home, you may hear the term Debt-to-Income ratio. In addition to your <a href="https://bundleloan.com/blog/what-is-a-credit-score/">credit score</a>, banks are going to look at your monthly obligations or loan payments shown on your credit report and add these to your monthly mortgage payment.</p>
<p>Once they add these up, they will compare the total amount to your monthly income to determine if you can comfortably make your mortgage payment going forward.</p>
<p>This is your Debt-to-Income ratio. The lower your ratio, &#8230;</p>
<p>The post <a href="https://bundleloan.com/blog/debt-to-income-dti/">Debt to Income (DTI)</a> appeared first on <a href="https://bundleloan.com/blog">Bundle</a>.</p>
]]></description>
		
		
		
			</item>
		<item>
		<title>Closing Disclosure</title>
		<link>https://bundleloan.com/blog/closing-disclosure/</link>
		
		<dc:creator><![CDATA[Eric Mager]]></dc:creator>
		<pubDate>Tue, 08 Oct 2019 20:46:12 +0000</pubDate>
				<category><![CDATA[Homebuyer]]></category>
		<category><![CDATA[Key Mortgage Terms]]></category>
		<guid isPermaLink="false">https://bundleloan.com/blog/?p=452</guid>

					<description><![CDATA[<p>The Closing Disclosure is a five-page form that finalizes the details of a mortgage loan. The lender issues the form to the borrower at least three days before closing a mortgage loan. You can find a great example <a href="https://www.consumerfinance.gov/owning-a-home/closing-disclosure/" rel="noopener noreferrer" target="_blank">here</a>.</p>
<p>You should review your closing disclosure carefully and make sure that the information matches your <a href="https://www.consumerfinance.gov/owning-a-home/loan-estimate/" rel="noopener noreferrer" target="_blank">Loan Estimate</a>, the form you received after you applied for you mortgage.</p>
<ol>
<li>The first page will outline the basic information of your mortgage. This </li>
</ol>
<p>&#8230;</p>
<p>The post <a href="https://bundleloan.com/blog/closing-disclosure/">Closing Disclosure</a> appeared first on <a href="https://bundleloan.com/blog">Bundle</a>.</p>
]]></description>
		
		
		
			</item>
	</channel>
</rss>