What Is A Subprime Mortgage?

A lease purchase mortgage is a financing option that allows potential homebuyers to lease a property with the option to buy. Often constructed so the monthly rent payment covers the owners ...

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 ...

A convertible ARM is an adjustable- rate mortgage (ARM) that can be converted into a fixed rate mortgage under certain conditions. ...

Freddie Mac is a name for the Federal Home Loan Mortgage Corp., which is a financial corporation chartered by the federal government to buy pools of mortgages from lenders and sell ...

RealEstateAgent.com calculator will compute your initial payments and estimate your future payments. The ARM parameters (Initial Rate, Index, Margin) are necessary for this calculator. ...

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

A morgagee is the lender. ...

A wraparound mortgage is a new mortgage that includes the remaining balance on an old mortgage, plus a new amount. ...

A loan with no down payment. ...

An option exercised by the borrower, at the time of the loan application or later, to 'lock in' the rates and points prevailing in the market at that time. When lenders 'lock/' they ...

Refinancing that omits some of the standard risk control measures and is therefore quicker and less costly. The rationale for streamlined refinancing is that, while it is an entirely new ...

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

An interest rate index that is used on some ARMs. ...

Compiling and maintaining the file of information about the transaction, including the credit report, appraisal, verification of employment and assets, and so on. Mortgage brokers usually ...

On an ARM, the assumption that the interest rate rises to the maximum extent permitted by the loan contract. ...

A mortgage that does not meet the purchase requirements of the two federal agencies, Fannie Mae and Freddie Mac, because it is too large or for other reasons, such as poor credit or ...