Tag Archives: primary mortgage insurance

Home Buyers: What Do You REALLY Know About Your Home Mortgage Loan?

Educating yourself about your loan options during the home buying process Home mortgage loan myths: How much do you know about your home loan?can save you money and frustration.

A recent Zillow survey showed some interesting statistics about what home buyers actually know (Or don’t know) about obtaining a home mortgage loan. Out of 1,000 current and prospective homeowners, it was discovered that:

  • 34 percent don’t know what the term “APR” means
  • 31 percent don’t believe it is possible to obtain a home mortgage loan with less than 5% as a down payment
  • One in four believe that they must close escrow using the same lender who originally pre-approved them for their home loan

Let’s clarify these home mortgage myths, shall we?

What does APR stand for? Continue reading Home Buyers: What Do You REALLY Know About Your Home Mortgage Loan?