There is a lot of terminologies involved in the mortgage application process, and one common term people come across is a mortgage point. What exactly is a mortgage point, and how might impact the price of the loan?

There is a lot of terminologies involved in the mortgage application process, and one common term people come across is a mortgage point. What exactly is a mortgage point, and how might impact the price of the loan?
Last week’s economic reporting included readings from S&P Case-Shiller Home Price Indices and the National Association of Realtors(R) released its monthly report on pending home sales. Weekly reports on mortgage rates and jobless claims were also released.
Most loan applications with less than 20% down payment are required to include mortgage insurance with the loan. However, mortgage insurance may still be needed, even if it’s not typically required by your lender.
When shopping for a mortgage, it is important to take closing costs into account. Let’s take a look at some major mistakes that could result in borrowers paying more than they need to in closing costs.
Last week’s scheduled economic reporting included readings on sales of new and previously-owned homes along with weekly data on mortgage rates and jobless claims.
Reliant Home Lending
8550 United Plaza Boulevard Suite 702
Baton Rouge, LA 70809