Cash to close: Breaking it down | Rocket Mortgage
In order to close on your house, you will need to bring cash to close the mortgage deal. Learn what expenses are included in your cash-to-close amount and more.| Rocket Mortgage
In order to close on your house, you will need to bring cash to close the mortgage deal. Learn what expenses are included in your cash-to-close amount and more.| Rocket Mortgage
The principal is the amount of funding borrowed for your loan, while interest is the money paid for use of the loan. Learn how these components interact.| Rocket Mortgage
A prepayment penalty is a fee some lenders charge when you pay all or part of your loan off early. Find out what triggers the fee and how to avoid it.| Rocket Mortgage
Underwriting is a crucial part of the loan approval process. Learn about what underwriting is, how long it can take, and tips for a successful experience.| Rocket Mortgage
Mortgage lenders require homeowners insurance, which reimburses you if your home is damaged or destroyed. Learn how to choose the right policy for your home.| Rocket Mortgage
A down payment is the percentage of a home's purchase price you pay up front. Learn how down payments work and how much you should put down on a house.| Rocket Mortgage
Paying off your mortgage early reduces the amount that you’ll pay over time, but is it a good idea? Learn how to avoid issues and pay off your mortgage faster. Learn how to avoid issues and determine if it’s worth it.| Rocket Mortgage
Annual percentage rate (APR) is the rate your loan will accrue interest at over the repayment term. See how APR works on a mortgage and why it’s important.| Rocket Mortgage
For a home buyer, closing costs are typically 3% – 6% of the loan amount. Learn more about how to calculate your closing costs and what’s included in them.| www.rocketmortgage.com
A mortgage point is a fee you pay to help lower the interest rate on a mortgage. Using this guide, learn more about discount points and how they work.| Rocket Mortgage
