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The Cottonport Bank
Privacy & Security
Total yearly cost of the loan which includes the interest rate and other prepaid finance charges.
The fees incurred when purchasing a home or refinancing the mortgage on a property. Costs vary by transaction, and will include lender or third-party fees or prepaid expenses, such as; taxes, insurance, and interest.
This is the up-front money you need for a home purchase that is not financed by the mortgage. Getting financial help with a down payment—or using gift monies toward it—may be possible depending on the loan program. Ask your loan officer for more information.
Escrow refers to an account held by the lender into which the homebuyer deposits money for tax or insurance payments.
The charge for borrowing money, paid over a specific period of time.
Insurance that protects a property owner against damage caused by fires, severe storms, earthquakes or other natural events.
Specific insurance coverage against property loss from flooding.
Protects the lender against loss and is generally required with a down payment of less than 20%. Different types of MI include FHA/MIP, Private Mortgage Insurance (PMI) and VA Guarantee Fee
A percentage of the loan amount, paid at closing, to reduce the interest rate on the loan. One point equals 1% of the loan amount.
The meeting between a home buyer, seller, and lender where the property and funds legally change hands. Also referred to as closing.
Protects your home against loss arising from problems connected to the title to your property.
Your privacy is very important to us.We would like to advise you that Internet email is not secure. Please do not submit any information that you consider confidential. We recommend you do not include your social security or account number or other specific identifying information.
You are leaving The Cottonport Bank's website and linking to a third party site. Please be advised that you will then link to a website hosted by another party, where you will no longer be subject to, or under the protection of, the privacy and security policies of The Cottonport Bank. We recommend that you review and evaluate the privacy and security policies of the site that you are entering. The Cottonport Bank assumes no liability for the content, information, security, policies or transactions provided by these other sites.