It can be difficult to know where to start when considering buying a home. Last month, we focused on tips for first-time homebuyers, explained how credit works and shared steps for setting budgets. This month, we’ll continue with mortgage basics, dream home wish lists, what you’ll need for a loan application and what documentation to keep after your loan closes. Let’s start with some basic mortgage terms. Mortgage terminology can feel like a foreign language. You may be wondering what “amortization,” “discount points” or “escrow” means. Visit our glossary for a quick guide to these and other mortgage terms.
Founded in 1960 when the modern U.S. mortgage industry was just forming, Guild Mortgage Co. is a nationally recognized independent mortgage lender offering a wide range of residential mortgage products and local in-house processing, underwriting and funding. Its collegial and entrepreneurial culture enables it to deliver unsurpassed levels of customer service. Having been through every economic cycle, the company has grown 15-fold since 2007, and now has more than 4,000 employees and 250 branch and satellite offices in 27 states. Guild’s highly trained loan professionals are experienced in government-sponsored programs such as FHA, VA, USDA, low down payment assistance programs and other specialized loan programs. The company generated $15.9 billion in loan volume in 2017, as compared to $1.2 billion in 2007. In addition, Guild services more than 190,000 loans, which totaled $38.6 billion in 2017. It has correspondent banking relationships with credit unions and community banks in 47 states. (Equal Housing Lender- Company NMLS #3274).
