Buying a home is a matter of pride and happiness for every family. But what if you lack the purchase amount? You will have to seek a mortgage loan. But you may not be aware of the technical terms used in the financial documents. It is necessary to understand the different terms involved to avoid costly mistakes. Hence, every clause needs to be read and reviewed thoroughly immediately after getting the loan document. Loan cost You need to know about the terms and other aspects related to loans as it is likely to affect overall financial health. Do consider several aspects to determine loan cost. It includes loan fees, interest rates, duration, and mortgage type availed. Many well-established portals provide calculators to help you calculate your total loan cost. Do understand you can save thousands in the long-term if you can lower the cost even by $100! Mortgage loan type When mortgage loans in Houston are concerned, home buyers are generally offered three types. • Fixed rate: In th