What Is A Mortgage Broker?

This question might have crossed your mind while planning for retirement, or... after inheriting your aunt’s under-the-mattress savings. You spread your wings ready to fly to the ...

Are you wondering how to speed things up with your mortgage payment? Thinking how to build equity to your home”? Well, by paying off your mortgage. The more you do, the more ...

The definition of “auction” is derived from the Latin word “auctus” which means “increasing”. A home auction is a sale where bidders place one bid after ...

A housing ratio is the percentage of your housing payment (principal, interest, taxes, and insurance) to your monthly gross income. Lenders use this ratio to qualify you for a loan. ...

There’s been a lot of demand for QR codes for real estate signs as they became a fabulous way to go beyond the advertising nature of the traditional static “for sale” ...

Developed by a successful management consultant in the ‘60s named Albert S. Humphery, the SWOT analysis is still in use today at management level. It starts with a goal in mind, a ...

Came here wondering if you need a permit to build a bunker? Of course you do. Come on, this is America; you need a permit to build anything! Especially a deep earth bunker, which might go ...

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 loan eligible for purchase by the two major federal agencies that buy mortgages, Fannie Mae and Freddie Mac. Conforming mortgages cannot exceed a legal maximum amount, which was $322,700 ...

Standards imposed by lenders as conditions for granting loans, including maximum ratios of housing expense and total expense to income, maximum loan amounts, maximum loan-to-value ...

A mortgage on which the interest rate is adjustable based on an interest rate index, and the monthly payment adjusts based on a wage and salary index. Dual index mortgages are not written ...

The date on which the closing occurs. On a purchase transaction, there is no financial advantage to the buyer/borrower in closing on any day of the month, as compared to any other day. ...

One of many interest rate indexes used to determine interest rate adjustments on an adjustable rate mortgage. ...

A particular combination of loan, borrower, property, and transaction characteristics that lenders use in setting prices and underwriting requirements. ...

An option attached to a mortgage, which allows the borrower to pay only the interest for some period. A mortgage is 'interest only' if the monthly mortgage payment does not include any ...

The party who services a loan, who may or may not be the lender who originated it. ...