Remove Due diligence Remove Principal Remove Title search
article thumbnail

How to Get a Mortgage Loan: A Step-By-Step Guide for First-Timers

HomeLight

The principal and interest portion of your mortgage payment will never change (although the amount you pay into escrow for taxes and insurance can change). The Loan Estimate includes: Loan terms : The estimate outlines the amount of the mortgage, the interest rate you’ll pay, and the monthly principal and interest. Title search.

Loans 98
article thumbnail

Opinion: Title insurance matters. Here’s why.

Housing Wire

During the refinance process, title insurance professionals would do their due diligence to disqualify any potential heirs who may attempt to claim the property down the road. Title insurance is equally important when homeowners refinance. This would allow the surviving wife to officially claim ownership of the property.

Title 382
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What to Know About Reverse Mortgages

Realty Biz

The borrower’s age and current interest rates are two factors that affect the principal limit that can be borrowed. You may have to pay for a credit check, a recording fee, as well as title searches, and insurance as well. Just make sure you do your due diligence for any company you’re considering using.

Mortgages 111
article thumbnail

131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

How else would you and your clients understand how much is being paid in principal and interest over the years? Chain of title is an historical record of previous owners of a property that’s essential in establishing the legal ownership of the property. Clear title. Due diligence period. Original principal balance.