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Joseph Jesuele's Blog

Loan Origination Fees
Updated Oct. 24, 2014
Lenders charge loan origination fees in order to cover the lender's administrative costs in processing a loan. These can also be called loan fees, service fees, or even administrative fees. Additional points may be charged as fees for other reasons, such as closing fees, documentation fees, etc. While...
Mortgage Escrow Account
Updated Oct. 9, 2013
A borrower should always consider setting up a mortgage escrow account to pay for taxes and homeowner's insurance. The first reason is that they will get a lower interest rate and better terms for their loan. Lenders underwrite "no escrow" loans differently because they consider them to be more risky. Since...
How to Use APR to Find the Best Mortgage Deal
Updated Oct. 24, 2014
For residential mortgages, disclosure of the annual percentage rate (APR) is very important. The APR tells a borrower the total cost of financing a loan in percentage terms, as a relationship of the total finance charges to the total amount financed. Finance charges are more than just interest. They include any...

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