Confused by different mortgage terms?
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Purchasing a home is a smart investment. Yet whether you are buying a home, refinancing or simply renewing, the mortgage you choose is an important decision. Working with an independent mortgage professional is the first thing you can do to ensure the process is simple, convenient, and in your best interest.
SURVEY:
The legal written and/ or mapped description of the location and dimensions of your land. The survey should also show the dimensions and placement on the lot of any structure, including additions such as pools, sheds and fences. An up-to-date survey is often required by a lender as part of the mortgage transaction. Lenders might allow the title insurance in lieu of a survey.
Use our Mortgage Terms Glossary to learn more about mortgages and the process you’ll go through to obtain one.
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