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Generally speaking, a 'direct lender' is a lender who lends his own funds. Some mortgage lenders use this term to differentiate themselves from mortgage brokers, who arrange loans between you and a lender. A direct lender should have control over the loan process from start to finish, but simply being a direct lender doesn't guarantee that you'll get great pricing or great service.
APR is perhaps the most misunderstood part of mortgage finance. "Rate", or more properly "contract interest rate" is the actual rate of interest you are being charged...
Read MoreThe owner of the loan is most often the "investor" -- the entity who put up the actual funds to make your mortgage happen.
Read MoreA 4 percent 30-year fixed-rate mortgage will see equal parts principal and interest at about payment number 154.
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