How Much Will My Principal Be?

Equity is the financial interest or cash value of your home, minus the current loan balance(s). If selling the home, this would also be minus any costs incurred in selling the home. If ...

You’ve searched all through the internet regarding how to close a real estate deal without an agent and now you’ve arrived here and we hope that you finally have the answer you ...

A commitment letter is a formal offer of a loan by a lender. The letter states the terms under which the lender has agreed to the loan. ...

Paid advertorials are articles written by public relations professionals that have just one goal in mind - to get you to buy a home. I\'m sure you\'ve seen them all over Newspaper Ads, ...

Are you confused because you can never tell what is the difference between an apartment and a flat? Don’t feel bad about it. Everyone has this doubt. And, to be honest, ...

A negative amortization is a type of loan situation that occurs when the monthly payments do not cover the principal or interest. Instead of declining, the balance of the loan actually ...

A very common real estate question is:Do Tiny Houses depreciate?Short answer is: yes, tiny houses do depreciate. But let’s explain the “why”s so we get to the bottom of ...

A limit on an adjustable-rate mortgage. ...

The frequency of rate adjustments on an ARM after the initial rate period is over. The rate adjustment period is sometimes but not always the same as the initial rate period. As an example, ...

A mortgage contract that allows, or does not prohibit, a buyer from assuming the mortgage contract of the seller. When a home buyer assumes responsibility for a home seller's existing ...

A contribution to a borrower's down payment or settlement costs made by a home seller, as an alternative to a price reduction. ...

Total costs charged to the borrower that must be paid at closing, by the borrower, the home seller, or the lender. In dealing directly with a lender, settlement costs can be divided into ...

Loan applications that are withdrawn by borrowers, because they have found a better deal or for other reasons. ...

The interest rate that is fixed for some specified number of months or years at the beginning of the life of an ARM. ...

The standards imposed by lenders in determining whether a borrower can be approved for a loan. These standards are more comprehensive than qualification requirements in that they include ...

Interest that is earned but not paid, adding to the amount owed. For example, if the monthly interest due on a loan is $600 and the borrower pays only $500, $100 is added to the amount owed ...