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Mortgage Refinancing in Ramsey, Minnesota.
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Conforming Loan Single-family home loans with a maximum loan amount of $359,650 that is typically higher than FHA and VA loans with lower interest rates.
Deed of Trust An instrument used in many states in place of a mortgage. The property is transferred to a trustee by the borrower (trustor), in favor of the lender (beneficiary) and re-conveyed upon payment in full.
Home Equity Line of Credit (HELOC) A revolving line of credit secured on the equity in the mortgagor's house, usable for any purpose.
Purchase Money Mortgage A mortgage given by the purchaser to secure a loan for part or all of the purchase price. Such a mortgage becomes a lien on the property simultaneously with the passing of title, and if immediately recorded becomes prior to any lien against the purchaser.