Mortgage Mark Resource Library
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2/1 Buy Down for Mortgage Interest Rates
A 2/1 buy down – pronounced “two one buy down” – is a feature for residential mortgages where the monthly payments for the first two years are based on temporary reductions in the mortgage interest rate. This program is often used when a purchasing…
From how you qualify for a mortgage, through house hunting, and the loan process – learn everything you need to know when buying a new home.
From how you qualify for a mortgage, through house hunting, and the loan process – learn everything you need to know when buying a new home.
Get a clear breakdown of the various types of loan programs that exist and learn more about the program options that could be right for you.
Credit is extremely specific and very complex. Our credit overview will provide you with a better understanding of how credit works when getting a home loan.
Top Resources
Escrow Analysis & Rebalance for Homeowners
This article is applicable to homeowners that have a mortgage with an escrow account. Every year mortgage servicers do an escrow analysis on existing escrow accounts.
Credit 101 – Remove Credit Dispute
Credit reports aren’t always perfect and occasionally certain items will need to be corrected – that’s where credit disputes enter the picture. When applying for a mortgage home loan, a credit report must be accurate and without disputes.
Homestead Exemption Overview
The information below is generic information regarding Homestead Exemptions for counties located in Texas. It reflects the changes taken into effect January 1, 2022. Each county has specific details on the amounts and the process for filing a homestead exemption.
Mortgage Resources
Mortgage Glossary
Learn familiar mortgage language and terminology
Qualified Mortgage Guidelines
Guidelines to understand Qualified Mortgage Qualifications
Mortgage Servicer
Understand what a mortgage servicer does and how they function
Mortgage Points for Interest Rate Buy Down
Learn about mortgage points during the closing process
Adjustable Rate Mortgage Basics
An in-depth review of adjust rate mortgage loans
Mortgage Down Payments
These are the basic down-payment guidelines for various loans programs
Purchasing Power and DTI Calculator
The Mortgage Mark Team created a DTI calculator to help determine your purchasing power.
What is a Title Company?
Learn about what a title company does and how they function
The Lowdown on LLPAs: What is It and Its Potential Impact on Your Mortgage
Home Loans with Upfront MIP
Each program has a unique name for this upfront fee; however, each serves the same purpose and…
Mortgage Insurance Overview (with video)
Mortgage Insurance (MI) protects the lender against losses if a borrower defaults on their home loan.
Mortgage Tax Deductions
Mortgage Interest paid on first and second mortgages are tax deductible for primary and…
Rate Buydown Calculator (with video)
An interest rate buydown temporary reduces a monthly mortgage payment for designed time…
Escrow Resources
Mortgage Escrow Account Overview
An escrow account is the majority of the funds for the Prepaids due at closing. When is an escrow…
New Construction Escrows Explained
Escrow accounts can be very confusing when purchasing a newly built home. The monthly…
Refinance Escrows
There is a difference between fees paid for closing (i.e. Closing Costs) and Prepaids paid at closing…
Escrow Account Calculations for Purchase Loans
All mortgage lenders use the same escrow account calculations. In other words, it doesn’t matter…
Escrow Analysis for Homeowners
This article is applicable to homeowners that have a mortgage with an escrow account.
Insurance & Tax Resources
Basics of Property Tax
Property taxes are are a part of home ownership and they fund the city, county, hospitals, and schools…
Property Tax Discussions: Over 65 and Disabled Persons
We talk about the Over 65 Tax Exemption and the Disabled Person Tax Exemption. Also, we focus…
Get Homeowners Insurance
Homeowners insurance protects a homeowner (and lender) in the event of property damage or loss…
Mortgage Interest Tax Deductions
Mortgage Interest paid on first and second mortgages are tax deductible for primary and…
Mortgage Prepaids
The term “prepaids” includes the costs for the home’s property taxes, homeowners insurance, HOA dues…
Private Mortgage Insurance (PMI)
Let’s face it, nobody likes mortgage insurance. The good news is that you can (eventually) cancel….
Closing Cost Resources
Closing Cost Overview
Here’s a breakdown the home closing costs, prepaids, and money due at closing. These are…
Closing Cost Payment Methods
When structuring a mortgage home loan there are four ways to pay for the mortgage closing costs:
Estimated Closing Costs
There are three components due at closing when buying a home and getting a home loan. The first…
New Construction Closing Costs
New construction closing costs are typically higher than the closing costs for an existing home. The…
Seller Concessions (with video)
Seller concessions allow a homebuyer to “roll-in” closing costs on a purchase home loan. It’s one of…