Mortgage, Home Loan & Refinance Professionals You Can Trust - Alliance...

Mortgage terminology is often confusing to people and the hybrid ARM, or fixed period ARM (adjustable rate mortgage,) is a good example. In fact, it would be fair to say that most people do not understand many of the terms used by mortgage lenders, and...

The mortgage questions we are asked are often based upon mortgage terminology. We shall start with some that relate to simple terms that are often misunderstood, and then progress to those that can really be confusing.
Mortgage Questions:  What is Pre-approval?...

Many find it difficult to understand the concept of ‘escrow’ in general. We shall try to make that clearer here. First, however, the question of prepaid interest.
Mortgage Questions: What is Prepaid Interest?
In mortgage terminology, prepaid interest relates to an advance payment made to cover the interest due for the remaining days of the month in which the mortgage is closed. As an example, let’s say you closed your mortgage loan on 16th April. On that...

Home inspections are important to home buyers, and it is worthwhile for you to attend a home inspection when buying a home. It’s also important that you understand the difference between a home appraisal and an inspection. Here is a brief explanation...