Mortgage Basics

Jump in and get an overview on common mortgage terms

Appraisals

An appraisal is an estimate of a property’s fair market value and is required by a lender to ensure the loan amount is not more than the property value. Read about appraisals, how they work, ownership and more by clicking learn more below.

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Closing Costs

A closing cost is a payment required to finalize a home loan and is separate from a down-payment. Read about closing cost, their purpose, how you can pay them and more by clicking learn more below

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Credit

Credit history is a recorded file of past and current credit that is utilized to compile a credit score. Read about credit, how it works, how to improve your score and more by clicking learn more below.

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Application Checklist

Applying for a mortgage can seem like a daunting and scary process. To help, we’ve created a checklist of things for you to compile, complete and acknowledge before applying. See the fill list by clicking learn more below.

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Private Mortgage Insurance (PMI)

Private Mortgage Insurance or PMI is insurance that protects a lender from increased risk from borrowers putting less than 20% down on a house. Read about PMI, how it works, cost and more by clicking learn more below.

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Refinance

Refinancing your mortgage is a common practice used to lower monthly payments, interest rates, lower your DTI and more. Read about refinancing, how it works, cost and more by clicking learn more below.

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Foreclosure

Foreclosure is the process of a lender seizing a property in accordance with the terms stipulated in the mortgage contract. Read about foreclosure and how to avoid it by clicking learn more below.

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Glossary Of Terms

See a full list of mortgage terms by clicking learn more below.

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home refinance - spot on lending

Home Refinance

home purchase - spot on lending

Purchase Home

home equity - spot on lending

Home Equity

reverse mortgage - spot on lending

Reverse Mortgage

manufactured home - spot on lending

Manufactured Home

About Us

Established in 2018

We have been helping customers afford the home of their dreams for many years and we love what we do.

Spot On Lending is an Equal Housing Opportunity Lender and complies with applicable laws and regulations.
Licensed and Serving Across 4 States:

California NMLS# 02066654 | 60DBO-154093

Georgia & Texas NMLS#1767407

Florida NMLS#MBR5826

Contact Us

Main Office:

5193 Groovers Landing Rd SE

Acworth, GA 30101

California Office:

1968 S. Coast Hwy #4100

Laguna Beach, CA 92651

Disclaimers

Serving Across 4 States:

& Especially These Cities:

Spot On Lending (“Inc.”), is an Equal Housing Opportunity Lender.

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