What Is A Mortgage Broker?

A proration is the division of certain fees. If the sellers have paid the taxes six months in advance, for example, they may want a portion of that payment back for the months you are ...

There’s really no easy and quick answer to “how much money can I borrow to buy a home?” It will all depend on the overall financial health of the area in question, the ...

An escrow officer - also known as a loan officer - is the person that walks you through the closing process. They are usually employed by the title company that you are working with. They ...

Every city has its claim to fame. For Chicago, it's the windy weather, a strangely shaped mirror sculpture, and one slightly above-average baseball team. For New York City, it’s the ...

I looked at a property yesterday with a REALTOR® who seems to be clueless.  I am really interested in purchasing the property, though. Can I switch agents and still make the ...

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 ...

With a population of about 1.3 million people, Dallas is the third most populous city in Texas and the ninth most populous city in the USA. The city of Dallas is part of the fourth largest ...

Basic points relates to changes in the interest rate for your home. ...

A lender who offers mortgage loans directly to the public. ...

The lowest interest rate possible under an ARM contract. Floors are less common than ceilings. ...

Proliferation in the number of loan, borrower, property, and transaction characteristics used by lenders to set mortgage prices and underwriting requirements. Nichification is unique to ...

The monthly index is a ratio of monthly interest costs to total funds, expressed as a percentage. Annualized interest, the numerator, is calculated by multiplying the deposit balances at ...

Making a payment larger than the fully amortizing payment as a way of retiring the loan before term. Making Extra Payments as an Investment: Suppose you add $100 to the scheduled ...

Administering loans between the time of disbursement and the time the loan is fully paid off. Servicing includes collecting payments from the borrower, maintaining payment records, ...

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. ...

The form that lists the settlement charges the borrower must pay at closing, which the lender is obliged to provide the borrower within three business days of receiving the loan application. ...