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