This is a basic idea - a loan officer or mortgage broker will be able to better explain the process to you.
Should you have any additional questions/comments or want to speak with a knowledgeable mortgage agent, please contact me.
In the meantime, please visit http://www.ArlynnPalmer.com for FREE Buyer and Seller Reports, FREE School and Neighborhood Reports, a Monthly Newsletter and other valuable real estate information.
Regards and Good Luck,
Arlynn B. Palmer, ESQ, SRES, CBR, CMS, CNS
Coldwell Banker Claire Sobel
Associate Broker, REALTOR