APR
Annual percentage rate is a measure intended to reflect certain costs of credit over time. Compare loan estimates and ask which costs are included.
REFERENCE DESK
Mortgage language, in plain English.
A short guide to terms you may hear while exploring a home loan.
MORTGAGE GLOSSARY
A clearer view of the decision.
Closing costs
Expenses associated with completing a mortgage transaction. The amount and who pays can vary.
Down payment
Money paid toward the home price upfront. Requirements depend on loan type and the details of the application.
Escrow
An account that may be used to collect and pay certain property-related expenses. The arrangement depends on the loan and transaction.
Rate lock
An agreement that may hold certain interest-rate terms for a specified period under its conditions. Ask when it applies and what can change.
Loan Estimate
A standardized document lenders provide after application that outlines estimated terms and costs. Review it carefully and ask questions.
EF
Edge Home Finance, LLC · Company NMLS #891464
Sergio Abbud is listed as licensed in Texas. Individual license number and current status should be confirmed with the lender before publication.