I don't know about you but understanding mortgages can be a daunting task.  There are so many terms to understand.  There are so many numbers to figure out.  What are the benefits of each?  Can I really afford the new home that I have been looking at--my dream home?  Today, you can find many of your answers online even before you call a mortgage agent or a mortgage broker or mortgage company.  It allows us to be ready with pertinent questions to ask when we do finally connect with an agent/broker/company.

I don't know about you but understanding mortgages can be a daunting task.  There are so many terms to understand.  There are so many numbers to figure out.  What are the benefits of each?  Can I really afford the new home that I have been looking at--my dream home?  Today, you can find many of your answers online even before you call a mortgage agent or a mortgage broker or mortgage company.  It allows us to be ready with pertinent questions to ask when we do finally connect with an agent/broker/company.

AP Online released new yesterday that Fannie Mae just unveiled a new consumer website.

"The government-controlled company on Tuesday launched www.knowyouroptions.com. It is designed to provide easy-to-understand definitions of mortgage industry terms and online calculators that help consumers determine whether they can qualify for a refinanced mortgage or a loan modification."

I want to point you specifically to http://www.knowyouroptions.com/resources/glossary-of-terms for more help on understanding mortgage terms.