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?

What is a Truth-in-Lending Disclosure? When do I get to see it?