Resources
Do you need help getting pre-qualified for a mortgage? Our office recommends the following lenders for their professionalism and quality mortgage programs. Sign in below to begin the pre-qualification process and a Wallace-Tustin agent will contact you within one business day.| Jack Cooley, Freedom Mortgage |  | |
| Ken Snelgrove, McCue Mortgage |  |
Mortgage Terms
- Amortization Period:
The period of time after which, if all monthly payments are made on time and in full, the loan will be paid out. - Down Payment:
The amount of money provided by you, the purchaser toward the price of the property (not including legal fees or other acquisition costs). - Interest Rate:
The actual cost of borrowing money, charged as a percentage of the outstanding amount owed. Usually compounded on a monthly basis. - Mortgage Amount:
The total amount of money to be borrowed by you, the purchaser, and applied toward the price of the property. - Prepayment Privileges:
The right of the borrower to pay out all or part of the outstanding principal before it comes due. - Term of the Mortgage:
The period of time during which the loan contract is active. During this period, you the Borrower makes periodic payments (usually monthly) to the lender and at the end of the term the balance of the loan becomes due and payable.
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