The basics of a mortgage

It can be difficult to know where to start when considering buying a home. Last month, we focused on tips for first-time homebuyers, explained how credit works and shared steps for setting budgets. This month, we’ll continue with mortgage basics, dream home wish lists, what you’ll need for a loan application and what documentation to keep after your loan closes. Let’s start with some basic mortgage terms. Mortgage terminology can feel like a foreign language. You may be wondering what “amortization,” “discount points” or “escrow” means. Visit our glossary for a quick guide to these and other mortgage terms.”

By |Published On: March 9th, 2017|Categories: Mortgage 101|

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About the Author: Guild Mortgage

Founded in 1960 when the modern U.S. mortgage industry was just forming, Guild Mortgage Company is a nationally recognized independent mortgage lender providing residential mortgage products and local in-house origination and servicing. Guild’s collaborative culture and commitment to diversity and inclusion enable it to deliver a personalized experience for each customer. With more than 4,000 employees and over 250 retail branches, Guild has relationships with credit unions, community banks, and other financial institutions and services loans in 49 states and the District of Columbia. Guild’s highly trained loan professionals are experienced in government-sponsored programs such as FHA, VA, USDA, down payment assistance programs and other specialized loan programs. Guild Mortgage Company is a wholly owned subsidiary of Guild Holdings Company, whose shares of Class A common stock trade on the New York Stock Exchange under the symbol GHLD.