If you’ve been researching mortgages, or are in the process of taking out a home loan, you’ve probably come across the term “impounds” or “escrows.” When you hear these seemingly scary words, the loan officer or mortgage broker is referring to an impound account, also known as an escrow account. You may even be told [&hellip

The post Mortgage Impounds vs. Paying Taxes and Insurance Yourself first appeared on The Truth About Mortgage.

I thought it would be helpful to create a post that answers a lot of top “mortgage questions” that consumers tend to ask in one convenient place. You should know the answers to all of these questions if you’re serious about getting a mortgage and ready to buy a home. Additionally, you might be better [&hellip

The post 21 Mortgage Questions You Should Know the Answer To first appeared on The Truth About Mortgage.

Mortgage Q&A: “Why are refinance rates higher?” If you’ve been comparing mortgage rates lately in an effort to save some money on your home loan, you may have noticed that refinance rates are higher than purchase loan rates. This seems to be the case for a lot of big banks out there, including Chase, Citi, [&hellip

The post Why Are Refinance Rates Higher? first appeared on The Truth About Mortgage.

If and when you take out a mortgage, you’ll be faced with an important choice. To pay or not pay mortgage points. In short, those who pay points should hypothetically secure a lower interest rate than those who do not pay points, all else being equal. That’s because mortgage points, at least the ones that [&hellip

The post An Alternative to Paying Mortgage Points first appeared on The Truth About Mortgage.

If you live in the USA and need a mortgage, perhaps you’ve thought about applying at “USA Mortgage.” Makes sense, right? It just so happens that USA Mortgage is located right smack in the middle of our fine country, in St. Louis, Missouri to be exact. Well, that’s pretty darn close to the midpoint… Anyway, [&hellip

The post USA Mortgage Review: #1 Mortgage Lender in Missouri? first appeared on The Truth About Mortgage.