The American mortgage

Chapter 1

The birth of the 30-year loan

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Chapter 2

How the money actually flows

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Chapter 3

The invisible giant in the background

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Chapter 4

Navigating your mortgage choices

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YOUR GOAL

Master of The American mortgage

Ch 4 · Navigating your mortgage choices

My Little Mortgage

sloane My Little Mortgage

sloane How credit scores dictate your rate

sloane The hidden cost of closing fees

sloane Fixed versus adjustable interest rates

sloane The debate over paying off early

sloane American Mortgage Choices

Fixed rate, fixed rate, Stayin' on track! Same payment, There's no turning back!

How credit scores dictate your rate

sloane How credit scores dictate your rate

Fun Fact

Credit impact: A simple 1% difference in your mortgage interest rate can cost or save you over $70,000 on a typical home loan.

The hidden cost of closing fees

sloane The hidden cost of closing fees

Glossary

mortgage (noun)
A legal agreement by which a creditor lends money at interest in exchange for taking title of the debtor's property. American buyers selecting their loan terms typically choose between fixed-rate and adjustable-rate agreements.

Quiz

What is a home appraisal?

Gossip

Which mortgage type would you choose for your dream home?

Quiz

Which three-digit score heavily influences the interest rate a lender offers you?

Quiz

What is a mortgage pre-approval?

Quiz

What is the main benefit of a 15-year fixed mortgage over a 30-year fixed mortgage?

Quiz

What is an adjustable-rate mortgage (ARM)?

Quiz

What are closing costs in a real estate transaction?

Quiz

Why might a home buyer choose a fixed-rate mortgage over an adjustable-rate mortgage?

Quiz

What happens when you make an extra principal payment on your mortgage?