100% Loan
Definition of "100% Loan"
A loan with no down payment.
Popular Mortgage Terms
A mortgage lender that sells all the loans it originates in the secondary market. ...
The initial interest rate on an ARM, when it is below the fully indexed rate. ...
A fee that some lenders charge to accept an application. It may or may not cover other costs such as a property appraisal or credit report, and it may or may not be refundable if the lender ...
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 ...
Same as term Negative Points: Points paid by a lender for a loan with a rate above the rate on a zero point loan. For example, a lender might quote the following prices: 8%/0 points, ...
Same as term Qualification: The process of determining whether a prospective borrower has the ability to repay a loan. ...
Assuming responsibility for someone else's payment obligation in the event that that party defaults. ...
Often referred to as a “second mortgage”, a home equity loan is a type of loan where the borrower disposes to the lender its equity to the home as collateral. To ...
Refinancing for an amount in excess of the balance on the old loan plus settlement costs. When the main objective of a refinancing is to raise cash, the relevant question is whether the ...
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