Mortgage Basics – Pre-qualification and Pre-approval

Horizon-Home-Mortgage-Pre-Qualify-Pre-Approve

  People use pre-qualification and pre-approval in mortgage discussions interchangeably, but the two terms mean different things. Understanding the difference between pre-qualification and pre-approval is important.   Both terms reference a homebuyer’s ability to obtain a mortgage for a certain amount. However, one does not determine if you can qualify, only that you may qualify…. [Read More]

Mortgage Basics – Types of Mortgage Loans

Mortgage Basics - Types of Mortgage Loans by Horizon Home Mortgage

Lenders – banks and financial institutions – have their own individual mortgage products or types of mortgage loans. However, these loan products typically fall into these categories.    What is a loan product? The very basic definition of “loan product” is simply “a type of loan account”. For example a 15-year, fixed rate mortgage is… [Read More]

Mortgage Basics – Part 1

Mortgage Basics CT MA

If you are considering purchasing your first home, the process may be overwhelming. One of the key aspects is financing your home purchase. Let’s review mortgage basics and put you in a better decision making position. Part 1 of 8 There are lot of terms thrown around in the mortgage industry like escrow, pre-qualification, pre-approval,… [Read More]

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