MORTGAGE 101

With over 180 pages of content, Mortgage 101 is by far the most informative and comprehensive mortgage resource you will ever see on the internet. You may want to see a survey of some of our current interest rates. Or it’s late at night and you want to calculate a payment scenario – Mortgage 101 is the place. More and more of our clients are realizing that the key to a successful mortgage strategy (like any long term financial strategy) is knowledge.

Consumers are tired of low-ball rate quotes and loan officers that are only interested in their commissions. Mortgage 101 is a great way to gain the knowledge you are seeking. Below is a quick guide to the most popular features of Mortgage 101. If you want to become a real mortgage expert there’s a lot more to see so don’t be afraid to explore. 

Interest Rates – Everyone wants to get the best rate but the cost of a loan (points, etc.) is just as important. Also see our FAQ’s.

Loan Programs – With the overwhelming and ever expanding range of mortgage programs available how does a consumer know which loan is right for them? Although, the ultimate decision should be made with the guidance of a knowledgeable loan officer who can take your unique situation into consideration, this area offers a great overview of how many of the different loan programs work and some of their pros and cons.

Mortgage Calculators – Besides the standard payment calculators this section has some other useful calculators such as rent vs. own, tax benefits, debt consolidation comparisons and refinance cost effectiveness. It’s a great way to see if what you want to do will make good financial sense.

To access the titles below, simply click Mortgage 101 and select the title from the right side navigation menu items.

Mortgage Terminology – A great way to familiarize yourself with all of the terms you’ll be hearing through the mortgage process.

Market Snapshot – Rates are ultimately driven by the treasury and bond markets, not the Federal Reserve. Want to check how the bonds or a particular index is doing? This is the place for you. Remember with bonds and treasuries, as the price goes up the yield goes down (lower rates) and as the price goes down the yield goes up (higher rates).

Choice Mortgage Corporation
New York and South Florida
Phone: 1-800-256-9717  Fax: 631-367-9005
Registered Mortgage Broker NYS and Florida Banking Department
All loans arranged through excellent third party lenders