Should I Consolidate My Debt?

A subprime mortgage is a mortgage granted to a borrower who is considered subprime-that is, a person with a less-than-perfect credit report. Subprime borrowers have missed payments on a ...

A mortgage is a legal document that pledges your property as security (like collateral) for a loan. ...

A mortgage banker is a company that originates mortgages and sells them to a secondary market. ...

Jumbo mortgages are mortgages larger than the limits set by Fannie Mae and Freddie Mac. A jumbo mortgage carries a higher interest rate than a conventional mortgage. ...

Paying points for a lower interest rate is a trade off between paying money now versus paying money later. A point - equaling 1% of the total loan amount - is an upfront fee that reduces ...

Mortgage companies use ratios to analyze your mortgage payment. The housing payment ratio (or front ratio) used in this calculation is 30%. The housing expense, or front ratio, compares ...

Find out what type of home is in your budget by entering a few numbers into our calculator. Our calculator is based on standard affordability ratios used to determine qualification for ...

RealEstateAgent.com calculator estimates the tax benefit of buying a home. Input your loan parameters and the month you purchased the home. Since home interest and points are captured in ...

The assumption that the index value to which the interest rate on an ARM is tied follows the same pattern as in some prior historical period. In meeting their disclosure obligations in ...

A mortgage larger than the maximum eligible for purchase by the two federal agencies, Fannie Mae and Freddie Mac. The maximum was $322,700 in 2003. However, some lenders use the term to ...

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

In connection with a home, the value of the home less the balance of outstanding mortgage loans on the home. ...

A contract signed by buyer and seller stating the terms and conditions under which a property will be sold.; Alternative Documentation;"Expedited and simpler documentation requirements ...

A borrower who submits applications through two loan providers, usually mortgage brokers, without their knowledge. Home purchasers sometimes submit more than one loan application as a way ...

A government-owned or -affiliated lender that makes home loans directly to consumers. With minor exceptions, government in the U.S. has never loaned directly to consumers, but housing banks ...

Requirements stipulated by the lender that the ratio of housing expense to borrower income and the ratio of housing expense plus other debt service to borrower income cannot exceed ...