What Is A Lease Purchase 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 ...

A type of mortgage in which the loan amount is amortized over the full length of the loan (usually 30 yrs), but the loan actually comes due after a few years (usually five or seven). The ...

Discover your potential monthly savings by combining your bills into a single source. Eliminate high interest rate credit card and installment loans with a tax deductible (consult you tax ...

This APR Calculator can be used to estimate the Annual Percentage Rate for a loan based on input parameters. There are various ways that companies compute APR. Mortgage Loan Fees may ...

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

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 ...

This calculator figures your principal balance after any number of payments. Input the beginning principal amount, interest rate, length of the loan, and the number of payments to analyze. ...

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. ...

Every ARM is tied to an interest rate index. An index has three relevant features:availibility, level, volatility. All the common ARM indexes are readily available from a published source, ...

The process of making a final determination on approval or rejection of a loan application. Underwriting involves verifying the information that has been obtained from the borrower and ...

A federal agency that guarantees mortgage securities that are issued against pools of FHA and VA mortgages. ...

The period between payment changes on an ARM, which may or may not be the same as the interest rate adjustment period. ...

Insurance purchased by the borrower and required by the lender, to protect the property against loss from fire and other hazards. Hazard insurance is also known as homeowner insurance and ...

The amount the borrower promises to repay, as set forth in the loan contract. The loan amount may exceed the original amount requested by the borrower if he or she elects to include ...

The amount invested in a house, equal to the sale price less the loan amount. The House Investment Decision: Lenders impose the upper limit on how much a household can spend for a house. ...

A mortgage lender or mortgage broker. ...