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What To Know When Buying A Home
Beginning of essay
As each American ventures into their journey through the “game of life”; one often begins with finding a home. Some prefer renting; yet, many prefer to buy a home. Buying a home can be exciting and perplexed. Getting the proper information can greatly help ease the anxiety and fears of such a g ....
Middle of essay
....gage Association (FNMA called Fannie Mae)- privately owned corporation created by congress that buys mortgage notes from local lenders and is responsible for the guidelines a majority of lenders use to qualify buyers.
Fixed Rate Mortgage- interest rate of this mortgage stays the same over the life of the loan.
Interest- the cost of borrowing money, usually expressed as a percentage over time.
Lien- a security claim on a property until debt is satisfied.
Points- one percent of the loans princ.... |
| Number of words: 972 |
Approximate pages: 4 |
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