What are key life events that might prompt an individual to review their estate planning documents?

In the context of homeownership, what constitutes a down payment?

What elements typically comprise a comprehensive monthly mortgage payment?

Describe the characteristics of a fixed-rate mortgage loan.

Explain the primary purpose of private mortgage insurance (PMI) within the context of home financing.

What documentation is typically requested during the mortgage application process?

Define the concept of mortgage pre-approval and its significance for potential homebuyers.

What advantages are associated with making a substantial down payment when purchasing a home?

What expenses typically constitute closing costs associated with a home purchase transaction?

Explain the key feature of an adjustable-rate mortgage (ARM) in contrast to a fixed-rate mortgage.