A mortgage on which the interest rate is adjustable based on an interest rate index, and the monthly payment adjusts based on a wage and salary index. Dual index mortgages are not written in the U.S., but they are common in Mexico.
A condominium project with features that lenders view as favorable in terms of
their risk exposure on loans secured by individual condo units. The requirements of warrantability
include ...
Charging unwary borrowers interest rates and/or fees that are excessive relative to
what the same borrowers could have found had they shopped the market. ...
Fees assessed by lenders when payments are late. Late fees are usually 4% or 5% of
the payment. A borrower with a 6% mortgage for 30 years who pays a 5% late charge every month raises
his ...
Rolling short-term debt into a home mortgage loan, either at the time of home purchase or later. The Case for Consolidation: Borrowers consolidate in order to reduce their finance costs. ...
Prices that assume a more or less standardized set of transaction characteristics that generally command the lowest prices. Generic prices are distinguished from transaction specific ...
A lender offering loans on the Internet who provides mortgage shoppers
with the information they need to make an informed decision before applying for a mortgage and
guarantees them ...
The process of determining whether a prospective borrower has the ability to repay
a loan. Qualification Versus Approval: To be approved for a loan, a prospective borrower must ...
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 ...
To understand what is a subprime mortgage, we need to talk about the subprime definition. Subprime means something that is not in the best conditions and, in this scenario, it refers to a ...
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 ...
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 ...
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 ...
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 ...
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