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An appraisal is an opinion of value or the act or process of estimating value. This opinion is derived by using three common approaches.

When analyzing the personal budget of a borrower, lenders use two different debt ratios to determine if the borrower can afford his obligations.

Understand how a mortgage company views your credit information.

Your credit profile details your credit history as it has been reported to the credit reporting agencies by lenders who have extended credit to you.

When you refinance your mortgage, you usually pay off your original mortgage and sign a new loan. With a new loan, you again pay most of the same costs you paid to get your original mortgage.

A basic funding fee of 2.0 percent must be paid to VA by all but certain exempt veterans.