Mortgages Made Simple with Rick Gundzik

This episode focuses on closing costs. Whether it's Discount points, Origination Points, Application fees, Processing and Underwriting fees, We discuss these fees and more. If you're not familiar with these fees your loan can get very expensive. This will explain mortgage home loan closing costs so you know what to look for on a good faith estimate.

Also we answer a listener's question about Trigger leads and why credit bureaus are the ones to blame.

Link: Example Good Faith Estimate (PDF)

Here is the second podcast of the new series. Join me, Rick Gundzik, as I discuss this week's topic, Hybrid Option ARM loans, What are they and how do they work? Is negative amortization bad? What is negative amortization? Is this a good loan for me?

We also discuss prepayment penalties and how they work.

Show Notes: Secure Option Arm, Flex Pay ARM, Hybrid Option ARM - These terms all refer to a negative amortizing adjustable rate loan. In other words, you can possibly owe more on your home loan then when you first got your loan.