BOOK A CALL

..

mortgage calculators

Property Price

Down Pmt.

Interest Rate

FICO Score

Term

Monthly HOA

Insurance

Prop. Tax

State

$0

Your payment

Principal & Int$0

Est. PMI$0

Property Tax$0

Insurance$0

Loan Information

Total Loan Amount—

Property Price—

Down Payment—

Loan Type—

Loan Term—

Interest Rate—

Monthly Payment Breakdown

Principal & Interest—

Estimated PMI—

Property Tax—

Homeowner's Insurance—

Total Monthly Payment—

Loan Summary

Total of Payments—

Total Interest Paid—

LTV Ratio—

Year	Payment	Principal	Interest	Balance

Information and interactive calculators are made available as self-help tools for your independent use and are not intended to provide investment advice. All examples are hypothetical and for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Learning Center

Articles guides and FAQs on mortgages and home buying

What is a mortgage?

A mortgage is a loan used to purchase a home, plot of land or other real estate where the property itself serves as collateral for the loan.

Does a mortgage mean you own the house?

Simply put, yes. When you have a mortgage, you technically own the home, but the lender holds a lien against the property. Here's a more detailed explanation:

Legal Ownership: As the borrower, you hold the title to the home, meaning you are the legal owner of the property. Your name is on the deed, and you have the rights and responsibilities that come with homeownership.

Lender's Lien: The lender has a lien on the property, which means they have a legal right to take possession of the home if you fail to repay the loan. This lien is recorded in public records and ensures the lender's interest is protected.
Equity: Over time, as you make mortgage payments, you build equity in the home. Equity is the difference between the market value of your home and the remaining balance on your mortgage. The more you pay down your mortgage, the more equity you gain.
Once you have paid off your mortgage in full, the lender will release the lien, and you will have full, unencumbered ownership of the property. At this point, you own the home outright.

What is the lifespan of a mortgage?

The lifespan of a mortgage, also known as the mortgage term, is the length of time you have to repay the loan. Common mortgage terms include fixed-rate mortgages, adjustable-rate mortgages (ARMs), FHA loans, VA loans, USDA loans, and jumbo loans.

Closing Countdown: What Happens After Your Offer Is Accepted

Investor Loans

May 15, 2025•1 min read

You made an offer—and it’s accepted! 🥳 Now what? Here’s what to expect between offer day and closing day.

Week 1: Appraisal + Disclosures

We’ll order your appraisal and review disclosures together. Nothing to sign just yet—this is your review period.

Week 2–3: Underwriting

Submit your updated documents and keep your phone handy. Quick responses help speed things up.

Week 4: Final Approval

Once the appraisal and docs are cleared, you’ll receive your Closing Disclosure to review.

Week 5: Closing Day

Sign the papers, get the keys, and celebrate—you’re a homeowner!

Got questions during any stage? I’ll walk you through it—just reach out.

under contract home buying stepsreal estate closing processsteps after home offer acceptancehome purchase process timelineafter offer accepted on house next stepshome appraisal processfinal loan approval stepsmortgage underwriting process

Home Access Financial

Back to Blog