What Is “Prime”?
http://bucket.wistia.com/medias/72t0kyqso9?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 -...
What Steps Need To Be Taken To Secure A Loan?
http://bucket.wistia.com/medias/ozrklkk9r1?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...
What Is An Escrow Account? Do I Need One?
http://bucket.wistia.com/medias/5mnypz7wyv?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...
What Are Discount Points?
http://bucket.wistia.com/medias/lqegbylxzg?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...
What Factors Affect Mortgage Payments?
http://bucket.wistia.com/medias/nc5av3zb0r?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...
How Does The Interest Rate Factor In Securing A Mortgage Loan?
http://bucket.wistia.com/medias/j6kng9g5pf?embedType=async&videoFoam=true&videoWidth=640 As you’ll see in the video, a lower interest rate allows you to borrow more money than a high rate with the some monthly payment. Interest rates can fluctuate as you shop...
