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What Is Equity?

http://videotap.wistia.com/medias/pqmyxk05ie?embedType=async&videoFoam=true&videoWidth=640 Equity is the value YOU own in property such as a house. It’s the difference between what’s OWED and what the property is WORTH in the current market. The example this...

What Are Real Estate Commissions?

http://videotap.wistia.com/medias/4uu2doxbtn?embedType=async&videoFoam=true&videoWidth=640 Like the video says - real estate agents aren’t paid by the hour!They’re paid a percentage of the purchase price in a successful real estate transaction. When one agent...

What Is “Prime”?

http://videotap.wistia.com/medias/aylyi06jd3?embedType=async&videoFoam=true&videoWidth=640 The Prime Lending Rate - sometimes just called “Prime”  - is the interest rate that banks charge each other for overnight loans. Some consumer rates - like ARMs - are...

What Steps Need To Be Taken To Secure A Loan?

http://videotap.wistia.com/medias/x1bvy0w3yd?embedType=async&videoFoam=true&videoWidth=640 You’ll see some pictures in this video to help you remember later, but the first step in securing a loan is to complete a loan application. To do so, you'll need the following...

What Is An Escrow Account? Do I Need One?

http://videotap.wistia.com/medias/7d73zzifzw?embedType=async&videoFoam=true&videoWidth=640 As we show you in this video, an escrow account is an account, established by your lender, to set aside a portion of your monthly mortgage payment to cover annual charges for...

What Are Discount Points?

http://videotap.wistia.com/medias/jlh6tgs5om?embedType=async&videoFoam=true&videoWidth=640 Discount points allow you to lower your interest rate. While this video simplifies things to help you remember, “points” are essentially prepaid interest with each point...

How Large A Down Payment Do I Need?

http://videotap.wistia.com/medias/qq01meivpm?embedType=async&videoFoam=true&videoWidth=640 There are mortgage options now available that only require a down payment of 5% or less of the purchase price. You’ll see some pictures in this video to help you remember later...

What Factors Affect Mortgage Payments?

http://videotap.wistia.com/medias/glcu8ciusy?embedType=async&videoFoam=true&videoWidth=640 Well, as this story shows, the amount of the down payment the size of the mortgage loan, the interest rate the length of the repayment term and payment schedule will all affect...

What Is Included In A Monthly Mortgage Payment?

http://videotap.wistia.com/medias/77yw3g0dfw?embedType=async&videoFoam=true&videoWidth=640 The monthly mortgage payment mainly pays off principal and interest. But most lenders also include local real estate taxes homeowner's insurance, and mortgage insurance, if...