What is an escrow account? An escrow account is where funds are held to pay property tax and insurance bills on your behalf. If your loan is escrowed, a part of your mortgage payment goes into your escrow account every month. When will you analyze my escrow account?

You are required to have enough insurance to cover the lower of either the replacement cost of the home or the remaining principal balance on your loan. Example: If your unpaid principal balance (UPB) is $80,000 but the replacement cost is $120,000, you need to carry a minimum insu...

Homeowner Assistance Fund (HAF) is a government-sponsored initiative managed by the Department of Treasury to offer assistance for homeowners impacted by the COVID-19 Pandemic that began in 2020. Note: The application process is handled by each state.

What Is a Pre-Approval? It’s a letter from a lender that indicates the type and amount of loan you may qualify for. It gives you a solid idea of how much you qualify for to help you target a specific price range when home shopping. Mr. Cooper offers a simple, fast, and free Pre-A...

We’ll send you an Escrow Review Statement that explains the results of the escrow analysis. Your statement will inform you whether your monthly payment is going up or going down in the year ahead, based on this year’s tax and insurance payments.

As a buyer, you only pay for the portion of the tax period that you own the home. So, if your new loan starts December 1st, you’ll typically only owe for only that month and the previous owner will pay 11 months’ worth of taxes at closing.

Organize Your Priorities From fixer-uppers to new construction, it’s time to see what the market has to offer Check Out Homes in Person Once you have a checklist of everything you want in a home, it’s time to start touring properties

Complete a mortgage assistance application online now and let us know what’s going on. We’ll help you determine a plan of action and next steps based upon your circumstances. You can also contact us if you have questions or need to speak with an agent. What mortgage assistance is...

When viewing a home, be thorough. Test AC & Heating systems, outlets, showers & toilets, and all appliances. Don’t forget to check on warranties. Take notes of repairs or upgrades you’ll have to consider if you decide to buy the home. Here are 6 common house-hunting priorities: 1. ...

Use our mortgage calculators to find a monthly mortgage payment that makes you feel comfortable. You can plug in the numbers to find your ideal price range, get a sense of your monthly mortgage payment amount, and identify how much you can—and should—borrow.