MORTGAGE BASICS

Jump in and get an overview of common mortgage terms

MORTGAGE BASICS

Jump in and get an overview of common mortgage terms

Application Checklist

Applying for a mortgage can seem like a daunting and scary process. To help, we've created a checklist of things for you to compile, complete and acknowledge before applying. See the fill list by clicking learn more below.

Credit

Credit history is a recorded file of past and current credit that is utilized to compile a credit score. Read about credit, how it works, how to improve your score and more by clicking learn more below.

Closing Costs

A closing cost is a payment required to finalize a home loan and is separate from a down-payment. Read about closing cost, their purpose, how you can pay them and more by clicking learn more below.

Appraisals

An appraisal is an estimate of a property's fair market value and is required by a lender to ensure the loan amount is not more than the property value. Read about appraisals, how they work, ownership and more by clicking learn more below.

Application Checklist

Applying for a mortgage can seem like a daunting and scary process. To help, we've created a checklist of things for you to compile, complete and acknowledge before applying. See the fill list by clicking learn more below.

Credit

Credit history is a recorded file of past and current credit that is utilized to compile a credit score. Read about credit, how it works, how to improve your score and more by clicking learn more below.

Closing Costs

A closing cost is a payment required to finalize a home loan and is separate from a down-payment. Read about closing cost, their purpose, how you can pay them and more by clicking learn more below.

Appraisals

An appraisal is an estimate of a property's fair market value and is required by a lender to ensure the loan amount is not more than the property value. Read about appraisals, how they work, ownership and more by clicking learn more below.

Mortgage Insurance

Private Mortgage Insurance or PMI is insurance that protects a lender from increased risk from borrowers putting less than 20% down on a house. Read about PMI, how it works, cost and more by clicking learn more below.

Refinance

Refinancing your mortgage is a common practice used to lower monthly payments, interest rates, lower your DTI and more. Read about refinancing, how it works, cost and more by clicking learn more below.

Foreclosure

Foreclosure is the process of a lender seizing a property in accordance with the terms stipulated in the mortgage contract. Read about foreclosure and how to avoid it by clicking learn more below.

Glossary of Terms

See a full list of mortgage terms by clicking learn more below.

Mortgage Insurance

Private Mortgage Insurance or PMI is insurance that protects a lender from increased risk from borrowers putting less than 20% down on a house. Read about PMI, how it works, cost and more by clicking learn more below.

Refinance

Refinancing your mortgage is a common practice used to lower monthly payments, interest rates, lower your DTI and more. Read about refinancing, how it works, cost and more by clicking learn more below.

Foreclosure

Foreclosure is the process of a lender seizing a property in accordance with the terms stipulated in the mortgage contract. Read about foreclosure and how to avoid it by clicking learn more below.

Glossary of Terms

See a full list of mortgage terms by clicking learn more below.

Get Your Mortgage Questions Answered Today!

Get Your Mortgage Questions Answered Today!

About Us

Town Lake Mortgage is your online resource for personalized mortgage solutions, fast customized quotes, great rates, & service with integrity.

NMLS: 2454803

Contact Us

4810B Spicewood Springs Rd

Austin, Texas 78759

Phone: 512-580-8374

[email protected]

About Us

is your online resource for personalized mortgage solutions, fast customized quotes, great rates, & service with integrity.

NMLS: 2454803

Contact Us

4810B Spicewood Springs Rd

Austin, Texas 78759

Phone: 512-580-8374

[email protected]

Copyright 2024 . All rights reserved

Copyright 2024 . All rights reserved