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1. Some Home Ownership Benefits

  • Take control: Avoid rent increases and cancelled leases.
  • Build home equity: Grow your assets by paying off your principal and as your home value increases.
  • Get tax benefits: Deduct mortgage interest and real estate property taxes. (Consult a tax advisor regarding the deductibility of interest and property taxes.).
  • Build your credit: Making on-time mortgage payments builds your credit.

2. Understanding Finance Basics

  • Interest rate: The interest rate is the percentage of your loan amount we charge you to borrow money.
  • Discount points: One point equals 1% of your mortgage amount. Points may lower your interest rate.
  • Origination charge: All charges, other than discount points, that all loan originators (lenders and brokers) involved receive such as fees, document preparation, and underwriting.
  • Loan term: Your loan term is the amount of time you have to pay off your mortgage balance. Shorter loan terms typically mean higher monthly mortgage payments, but often have lower interest rates and thereby end up costing you less money overall.

3. How do I get Started?

  • Mr.Cooper
  • Contact your Xome Concierge
  • Call us at 844-400-XOME and let us help you find a mortgage that's right for you!