The concept of a mortgage is quite simple. It’s basically a loan for a home wherein the property itself is used as collateral.
Securing a mortgage, however, can be complex. The process may take more than a month, as several parties – from the escrow officer to the loan underwriter – work behind the scenes to put it all together.
A trusted RE/MAX real estate agent can recommend a reputable mortgage broker or lender and help you navigate through the process.
*Additional Monthly Costs for your home purchase include taxes and home owners insurance. To get an accurate monthly cost for your new home divide yearly taxes and yearly home owners policy by 12 (months) and add the two costs to your monthly payment.
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