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We realize the mortgage process can be daunting for any home buyers, but NewRez is committed to helping our customers feel confident in anything mortgage-related. To that end, here’s a few often-misunderstood mortgage terms in plain English.

If you’ve decided to buy a home, congratulations! You have an exciting road ahead of you. It’s easy to get caught up in the anticipation and want to jump on things right away but try not to get ahead of yourself. It really does pay off if you make sure your finances are in order well before you apply. Things like getting your credit score up and your overall (debt to income ratio) DTI down can take a few months to a year, but could save you thousands of dollars on your ultimate monthly mortgage payment.

You’ve finally found the perfect home! The only thing left to do is close the deal. Going to the closing table, especially for the first time, can be a little intimidating. In fact, almost every first-time homebuyer, and many seasoned homeowners, have questions about the closing process. We’ve compiled answers to some of the most common questions about closing to help you sit down at the closing table with confidence.

If buying homeowners insurance is on your radar, read on to learn about policies, premiums, claims, and more.

Thinking about making the step from renter to homeowner? Owning a home has so many financial benefits compared to renting, so pat yourself on the back for even considering the move - it’s a big step!

If you put less than 20% down when you purchase a home, you will typically need Private Mortgage Insurance, also called PMI.