Mortgage Glossary

Nations Choice Mortgage wants to help our customers better understand some of the common questions that may arise when choosing a Mortgage Lender. Please review our lists of Frequently Asked Questions for information about the Nationís leading mortgage lender.








Instant Mortgage Rate Help

Loan Amount: How much do you want to borrow? Example: 150,000 (You can borrow up to 100% of the purchase price of your home. You will find better interest rates at 95%, 90%, and 80% progressively.)

Property Value: This is the purchase price of your property or your best estimate of the appraised value of the property. Example: 175,000.

Loan Type: Selecting Refinance WITH CASH OUT may increase your rate. If you want some extra cash to pay the closing costs on your new loan, this would NOT be considered receiving extra cash.

Escrow/Impounds: Allows you to pay 1/12 of your annual property taxes and homeowners insurance with your mortgage payment each month. Escrowing your taxes and insurance will lower your points by .25%

Property State: Specify the State where the property is located

Property County: Specify the County where the property is located


Todays Rates: These rates are based on the following criteria..

Instant Mortgage Rates


Loan Amount
Property Value
Loan Type
Loan Purpose  
Property Type
State
City
Zip
 
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