Mortgage Basics

Helpful Mortgage Basics and Insights


Unravel the intricacies of mortgages with C & G Mortgage, with local offices in Dayton and Lima, Ohio. Our mortgage basics will empower you with the knowledge needed to navigate the complex world of homeownership. Here, we provide valuable insights into various aspects of the mortgage journey. Call us today at 937-264-9150 to schedule an appointment.

Mortgage Basics

Embark on your mortgage education by gaining an overview of standard mortgage terms. Whether you're a first-time homebuyer or a seasoned property owner, understanding these terms is fundamental to making informed decisions about your mortgage.

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A house key sitting on mortgage application – Dayton, OH - C & G Mortgage

Application Checklist

Applying for a mortgage can often seem like a daunting and intimidating process. We've meticulously crafted a comprehensive checklist to simplify and streamline your journey. This tool will guide you through the necessary steps, ensuring you're well-prepared before you begin the application process. By following this checklist, you can confidently embark on your path to homeownership.

Understanding Your Credit

Your credit history is a pivotal element in the mortgage process. It is a recorded file that encompasses your past and current credit behavior, ultimately culminating in your credit score. Knowledge of your credit is vital to securing favorable mortgage terms.

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Decoding Closing Costs

Closing costs are a vital component of your home loan, distinct from the down payment. Our comprehensive breakdown of closing costs elucidates their purpose and guides you on the best methods to manage and cover them. Understanding these costs is essential to ensuring a smooth and successful home purchase.

Navigating Property Appraisals

An appraisal is an essential step in the mortgage process, designed to estimate a property's fair market value. Lenders rely on this valuation to ensure the loan amount aligns with the property's value. Our exploration of appraisals clarifies how they function, the intricacies of ownership, and their significance in the mortgage process.

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Mastering Private Mortgage Insurance (PMI)

Private Mortgage Insurance, commonly called PMI, safeguards lenders when borrowers make a down payment of less than 20%. Our comprehensive guide on PMI dissects its mechanisms, costs, and advantages, offering an in-depth understanding of this crucial aspect of the mortgage journey.

Embracing Mortgage Refinancing

Refinancing your mortgage is a common practice that offers opportunities to reduce monthly payments, lower interest rates, manage your debt-to-income ratio, and more. Our detailed exploration of refinancing outlines the benefits, process, associated costs, and strategies to maximize your financial advantages.

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Avoiding Foreclosure

Foreclosure is a distressing process in which lenders seize a property based on the terms outlined in the mortgage contract. Our guide to foreclosure equips you with the knowledge to avoid this unfortunate scenario. By understanding the causes and consequences of foreclosure, you can take proactive steps to protect your homeownership. We're here to empower you with the information required to embark on your path to successful homeownership.

Ready to take the next step? Contact us today at 937-264-9150 to speak with one of our experienced mortgage brokers.

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