Purchasing a home is an exciting experience that can also be overwhelming with lots of paperwork, decisions to make, financial data to gather, and a whole new vocabulary to decipher. As with most things, the process and the terminology are constantly evolving to keep up with the changing times. New regulations have resulted in new details to understand about the dynamic process of finding a home and securing financing. To keep you up to date, we’ve updated our previous blog about mortgage jargon to reflect new terminology and forms that have emerged, or gone away, with regulations that took effect on October 3, 2015.
Purchasing a home is an overwhelming experience. So many emotions, decisions to make, financial data to gather, papers to sign, and new vocabulary to decipher. Do you ever feel like the home buying process requires fluency in another language or maybe a secret decoder ring?
Paying off your mortgage is an exciting financial milestone. But, are you prepared to do it properly? Here’s a simple checklist to guide you through the process.