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2515 Cleveland Ave N
Canton, OH 44709

MB #802082

Phone: 330.454.5320
Toll Free: 1.877.642.4500
Fax: 330.454.5490

Hours of Operation
All hours are in Eastern Time.

Monday 8am – 9pm
Tuesday 8am – 9pm
Wednesday 8am – 9pm
Thursday 8am – 9pm
Friday 8am – 5pm
Saturday - by appointment
Sunday Closed

Serving Loan, Mortgage
and Insurance Needs
in the Following Areas:

Canton, North Canton,
Massillon, Louisville, Alliance,
Akron and all of Ohio.

Pioneer Financial Services, inc.

Mortgage 101

Mortgage Protection • Mortgage Terminology • Top 10 questions for renters •

What a Mortgage Payment Consists of:

  1) Principal: The repayment of the original amount borrowed on a monthly basis.

2) Interest: The cost of borrowing the principal amount, repaid on a monthly basis.

3) Taxes: Real Estate taxes paid to a local government agency.

  4) Insurance: Homeowners insurance on the home.

  5) Private Mortgage Insurance (PMI):  If the buyer pays less than 20% down on a property,
      the mortgage company charges the buyer an additional monthly insurance payment called
     PMI.

The total of these items is known as the PITI (Principal/Interest/Taxes/Insurance) payment.

Probably one of the reasons that buying a home is such an emotional experience is because of the fact that not only do you have the actual house buying to deal with, but for most home buyers you also have the mortgage process to encounter. This can be a smooth and almost uneventful process, or an unnerving one. A great deal depends on the preparation of the buyer as well as the selection of an efficient mortgage company.

Special Events • Pioneer Employees • Insurance • Mortgage 101 • Loan Types •
Loan Application • Loan Calculator • Contractors • Realtors • Newsletter • Contact Us