Tag Archive: mortgage

How mortgage works: 3 Important questions answered

Getting a mortgage is a major part of the homebuying journey, but many first-time borrowers wonder: “how does a mortgage work?” While the basic concept of a loan might be simple, mortgages come with an entire process consisting of multiple stages.  Most borrowers begin by comparing mortgage lenders and getting ...

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Mortgage prepayment penalty: What you need to know

Mortgage lenders make money primarily through interest payments, which means many loans come with a mortgage prepayment penalty. And while not impossible to prepay your mortgage, it’s important to understand prepayment penalties and how they work.  How penalties vary by lender Some lenders charge prepayment penalties for paying out the ...

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