The sum of all interest payments to date or over the life of the loan. This is not a good measure of the cost of credit to the borrower because it does not include upfront cash payments and it is not adjusted for the time value of money.
A letter from a lender verifying that the price and other terms of a loan
have been locked. Borrowers who lock through a mortgage broker should always demand to see the lock
commitment ...
A sale price below market value, where the difference is a gift from the sellers to the buyers. Such gifts are usually between family members. Lenders will usually allow the gift to count ...
A payment made by a lender to a mortgage broker for delivering an above-par
loan. A par loan is one on which the lender charges zero points. Lenders charge points on loans
carrying ...
Trying to find the best deal on a mortgage. It isn't easy to do right, as a
summary of the major steps involved will demonstrate.
Step 1: Decide if you are a potential shopper.
Step 2: ...
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 ...
The time is here: you decided you will buy a home. Congratulations!
But soon after you get motivated to do, conscience kicks in and makes you ask yourself: how much income do I need to buy ...
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 ...
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 ...
This calculator figures your principal balance after any number of payments. Input the beginning principal amount, interest rate, length of the loan, and the number of payments to analyze. ...
Have a question or comment?
We're here to help.