What Is A Mortgage Broker?

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

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, ...

An APR stands for an ANNUAL PERCENTAGE RATE. This rate includes the costs of any points paid, mortgage insurance, and other costs. ...

An origination fee is a fee paid to a lender for processing a loan application. ...

Are you wondering what is the difference between being prequalified and preapproved for a loan? Do you always get confused because they seem pretty much the same thing, right? But there is ...

The textbook definition of a spec house is \"one built on a speculative basis, without an order on the books\". Commonly, a buyer will be unsatisfied with this type of house because it was ...

Recently sold properties that are similar in size, location, and amenities to the home for sale. These properties help an appraiser determine the fair market value of a property. ...

The period until the last payment is due. The maturity is usually but not always the same as the period used to calculate the mortgage payment. ...

Prices that assume a more or less standardized set of transaction characteristics that generally command the lowest prices. Generic prices are distinguished from transaction specific ...

A non-citizen with a green card employed in the U.S. Non-permanent resident aliens are subject to somewhat more restrictive qualification requirements than U.S. citizens. Permanent ...

Markets in which mortgages or mortgage-backed securities are bought and sold. 'Whole Loan' Markets Versus Securities Markets: Secondary mortgage markets are of two general types. 'Whole ...

The loan balance remaining at the time the loan contract calls for full repayment. ...

Same as term Points: An upfront cash payment required by the lender as part of the charge for the loan, expressed as a percent of the loan amount; e.g., '3 points' means a charge equal to ...

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 ...

Limit on the size of payment change on an adjustable rate mortgage. ...