What Is a Mortgage Escrow Account?
A mortgage escrow account collects part of the property-tax and insurance costs with each payment so the servicer can pay those bills when they come due.
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Mortgage Basics
Learn the core mortgage concepts, terminology, and lending fundamentals in plain English.
Lender Credits vs. Financed Costs: What Changes the Real Cash Needed?
Lender credits and financed costs can both reduce the cash a borrower brings to closing, but they do it in different ways. One usually trades upfront cost for pricing. The other can increase the loan balance when the program allows it.
Interest Rate vs. APR: What Each Number Means
The interest rate determines how much interest is charged on the outstanding principal. APR adds certain loan charges to show a broader annualized cost, but neither number alone identifies the less expensive option for your expected timeline.
What Is a Manufactured Home?
A manufactured home is built to the federal HUD construction code on or after June 15, 1976. The construction standard and identifying records determine the property type, not its appearance after installation.
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