Knowledge Base
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FAQs
FAQs
Closing
Getting Pre-Approved
Post-Close
Making Offers
Loan Products
Mortgage Interest Rates
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Knowledge Base
FAQs
FAQs
Closing
Getting Pre-Approved
Post-Close
Making Offers
Loan Products
Mortgage Interest Rates
FAQs
Closing
What is homeowner's or hazard insurance?
What is funding?
What is an appraisal management company?
What is an appraisal?
What is closing?
What is an underwriter?
What is an earnest money deposit?
What is an escrow officer?
What is an escrow company?
What is the request for tax return transcript?
What are processing fees?
What are pre-paid costs or fees?
What are lender fees?
Who Is Vellum Mortgage/JVM’s “Mortgage Bank?”
What is a seller credit?
What is a Property Inspection Waiver (PIW)?
What is a Deed of Trust?
What is a closing statement (of fees)?
What is a Closing Disclosure (or CD)?
What is a gift letter?
What is a good faith estimate (GFE)?
What is a HUD-1 form (estimated or final)?
What is a lender credit?
What is a loan estimate?
What is a condition?
What is cash to close?
What is Loan Approval and Final Approval?
What is Power of Attorney (POA)?
What are impounds? Should I get impounds?
What are underwriting fees?
What are comparable sales (“comps”)?
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Getting Pre-Approved
What is principal?
What is PITIA?
What is an automated underwriting system?
What is depreciation?
What is a debt to income ratio?
What is credit?
What is an investment property?
What are cash reserves?
Can you pre-approve me right now without pulling my credit?
Why do you ask for so much paperwork up front?
What is debt?
What is the PACE program?
What is a first-time homebuyer (FTHB)?
What is pre-qualification?
What is a 1003/1008 form?
What is a co-borrower?
What is a "Benefit to Borrower"?
What is a homeowners association (HOA)?
What is a mortgage lender?
What is a loan default?
What is a loan modification?
What is a loan?
What is a LTV/CLTV (loan-to-value/combined loan-to-value) ratio?
What is a mortgage?
What is a borrower(s)?
What is a Short Sale?
What is the main difference between mortgage insurance for Conforming loans vs. FHA loans?
What is mortgage insurance?
What is a W-2?
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Post-Close
What is future value?
What is equity?
What is appreciation?
What are property taxes?
What is a foreclosure?
What is a lien?
What is a deed?
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Making Offers
What does "For Sale by Owner" mean?
What is fair market value?
What is an offer?
What are inspections?
How will JVM’s fast close help me if sellers don’t want to close quickly?
What is a purchase agreement?
What is a Buyer's Agent or Selling Agent?
What is a listing agent (or seller's agent)?
What is a contingency?
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Loan Products
What is Freddie Mac?
What is an assumable mortgage?
What is Fannie Mae?
What is private mortgage insurance?
What is a non-QM loan?
Will my loan have a pre-payment penalty or a balloon payment?
What are reserves and why are they required for some loan products?
Is a “no money out of pocket” loan the same as a “no cost” loan?
What is a streamline loan?
What is a subordinate loan?
What is a rate and term refinance?
What is a cooperative (co-op)?
What is a "no-cost" refinance?
What is a conforming loan?
What is the mortgage insurance premium (MIP) and upfront mortgage insurance premium (UFMIP)?
What is a conventional mortgage?
What is a conventional loan?
What is a cash out refinance?
What is a fixed-rate mortgage?
What is a home equity line of credit (HELOC)?
What is a jumbo loan?
What is a jumbo mortgage?
What is an FHA loan?
What is a construction loan?
What is an ARM loan?
What is a first/second combination (combo) loan?
What is an investment property loan?
What is a VA loan?
What is a second mortgage?
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Mortgage Interest Rates
What is prime rate?
What is a rebate or yield spread premium?
What is APR?
What is an interest rate?
What are origination fees?
What are discount points?
What are basis points?
Why is my credit score online so much higher than the one you are reporting?
Does it matter if my spouse/partner has a low credit score?
What is an amortization schedule?
What is amortization?
What is a property address?
What is a cap?
What is a rate lock?
What is a refi boom?
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