How Does a Mortgage Work?
Understanding how a mortgage works is crucial for homebuyers in Arizona’s East Valley, including areas like the East Valley. A mortgage is a loan from a lender, such as a bank, to purchase a home. You repay it over time—often 15 or 30 years—with interest, using the property as collateral. If you miss payments, the […]
What is PMI?
Understanding PMI (Private Mortgage Insurance) is essential for homebuyers in Arizona’s East Valley, where markets like Mesa and Chandler remain competitive. PMI is an insurance policy that protects lenders if a borrower defaults on a mortgage with less than a 20% down payment. It’s not for you—it’s for the bank—ensuring they recover losses if foreclosure […]
What is a Mortgage?
Understanding a mortgage is key for homebuyers in Arizona’s East Valley, where markets like Mesa and Chandler thrive. Simply put, a mortgage is a loan from a lender—typically a bank or credit union—to help you purchase a home. You repay the loan over time, with interest, while the property acts as collateral. If payments aren’t […]
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