Mortgages basics

Will I receive the Know Before You Owe disclosures when I shop for a mortgage?

What exactly happens when a mortgage lender checks my credit?

How much does it cost to receive a Loan Estimate?

What is a Loan Estimate?

What information do I have to provide a lender in order to receive a Loan Estimate?

How do mortgage lenders calculate monthly payments?

What is a prepayment penalty?

With an adjustable-rate mortgage (ARM), what are rate caps and how do they work?

For an adjustable-rate mortgage (ARM), what are the index and margin, and how do they work?

If I am considering an adjustable-rate mortgage (ARM), what should I look out for in the fine print?

Are condo/co-op fees or homeowners’ association dues included in my monthly mortgage payment?

How does paying down a mortgage work?

On a mortgage, what’s the difference between my principal and interest payment and my total monthly payment?

What are late fees on a mortgage?

Am I allowed to negotiate the terms and costs of my mortgage at closing?

I’m about to close on a mortgage. What are the key steps I can expect in the mortgage closing process?

Who should I expect to see at my mortgage closing?

What fees or charges are paid when closing on a mortgage and who pays them?

Do auto and homeowners insurance companies share my information about claims and policies?

What is a “higher-priced mortgage loan?”

What is a debt-to-income ratio? Why is the 43% debt-to-income ratio important?

What is a Qualified Mortgage?

What types of loans are covered under the Military Lending Act?

How do credit reporting companies get my information?

Can my partner, family, or dependents live in my home if I have a reverse mortgage?