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Buyer Resources

Here you can explore different loans options and begin familiarizing yourself with mortgage terminology 

Glossary

Appraisal

A third party estimate of a home's value required to approve your loan

Closing Costs

Fees paid at closing, including lender, title, attorney & insurance fees 

Equity

The difference between your mortgage payoff and your home's current value

Pre-Approval / Pre-Qualification

A written estimate of how much you can borrow, based on your mortgage application and any verified income & asset documentation


Pre-Paids

Interest paid from the day of closing through the end of the month as well as your first year of homeowner's insurance

Escrows

A "savings" account set up by your lender to pay your property taxes and insurance

Debt-to-Income (DTI)

A percentage based on your monthly obligations, including your new mortgage, compared to your monthly income

Loan-to-Value (LTV)

The percentage you are borrowing compared to the value of your home

Add a footnote if this applies to your business

Harmony Home Mortgage in an independent mortgage broker.

All loans are subject to underwriting approval.

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