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 Company is a nationally recognized independent mortgage lender offering pilot and specialized residential mortgage products and local in-house processing, underwriting and funding. Guild’s collegial and entrepreneurial culture enables it to deliver personalized customer service. Having been through every economic cycle, the company has grown almost 20-fold since 2007, when it first reached $1 billion in production, to $21.71 billion in total loan volume in 2019. It now has nearly 4,000 employees and 222 retail branches in 30 states. Guild’s highly trained loan professionals are experienced in government-sponsored programs such as FHA, VA, USDA, down payment assistance programs and other specialized loan programs. In addition, Guild services more than 237,000 loans, which totaled $49.43 billion as of December 31, 2019. It has correspondent banking relationships with credit unions and community banks in 43 states and services loans in 47 states. (Equal Housing Lender-Company NMLS #3274).
