![]() ![]() Your loan advisor or realtor can assist you in determining your property value. This is usually determined by your local appraisal district. Property Value The value of your property.Most lenders generally require PMI for a loan with a loan-to-value (LTV) ratio in excess of 80%. Private Mortgage Insurance (PMI) Mortgage insurance is provided by a private mortgage insurance company to protect lenders against loss if a borrower defaults. ![]() Discount points usually translate to a lower mortgage interest rate, and one point generally equals 1% of the mortgage. Origination and Discount Points Origination points are fees some lenders may charge for evaluating and processing a mortgage.An ARM (Adjustable-Rate Mortgage) typically has an interest rate that periodically changes, usually on an annual basis. Fixed-Rate mortgages have an interest rate that is fixed throughout the term of the loan. Mortgage Type The two main types of mortgages, ARM and Fixed-Rate, have some differences. ![]() Have questions about your annual property taxes? Your real estate agent may be able to help you. So, a $250,000 home would have annual property taxes of just over $5,000. Your county appraisal district appraises property located in your county, while local taxing units set tax rates and collect property taxes based on those values.
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