A professional with knowledge of real estate markets and skilled in the practice of appraisal. When a property is appraised in connection with a loan, the appraiser is selected by the lender, but the appraisal fee is usually paid by the borrower.
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, 7.5%/3 points, 8.75%/-2.5
points. ...
A written document evidencing the lien on a property taken by a lender as security for
the repayment of a loan. The term 'mortgage' or 'mortgage loan' is used loosely to refer both to the ...
Every ARM is tied to an interest rate index. An index has three relevant features:availibility, level, volatility. All the common ARM indexes are readily available from a published source, ...
Protection for a borrower against the danger that rates will rise between the
time the borrower applies for a loan and the time the loan closes. Rate protection can take the form
of a ...
Wondering what is the best lease purchase mortgage definition?A lease purchase mortgage is a financing option that allows potential homebuyers to lease a property with the option to ...
Wondering what is the effect of paying extra principal on a mortgage – if there’s any?
Well, it actually does have a big effect and – if you do have available funds to do ...
Are you like “OMG! I forgot my mortgage payment! What happens now? Will I have to pay double the value I had to pay?! Are the cops coming to get my house?!”
Calm down. ...
Discover your potential monthly savings by combining your bills into a single source. Eliminate high interest rate credit card and installment loans with a tax deductible (consult you tax ...
Paying points for a lower interest rate is a trade off between paying money now versus paying money later. A point - equaling 1% of the total loan amount - is an upfront fee that reduces ...
You saw a property you love and want to buy it, but you have no money to do that. So you ask us how do you buy a house with no money.
Well, that’s a funny question… if you ...
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 ...
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