What are prepaid costs when buying a home?

Learn what a co-op is, how cooperative housing works, and what ownership means. Understand fees, rules, and the role of the governing board in co-op living. Read more

Learn what a mortgage gift letter is and how it helps lenders confirm that the gifted funds for a down payment or closing costs are not counted as debt. Read more

Discover what a loan-to-value ratio is and how the LTV ratio is calculated. Learn how lenders use it to assess mortgage risk, home equity, and PMI requirements. Read more