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A mortgage lender that sells all the loans it originates in the secondary market. ...

The amount of interest, expressed in dollars, computed by multiplying the loan balance at the end of the preceding period times the annual interest rate divided by the interest accrual ...

A lender who offers mortgage loans directly to the public. ...

The dollar amount of interest paid each month. The interest payment is the same as interest due so long as the scheduled mortgage payment is equal to or greater than the interest due. ...

During the great depression of the 1930s, the government stepped in and came with an innovative loan to help the banking industry recover, thus putting the whole economy back on track. FHA ...

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 ...

The sum of the monthly mortgage payment, hazard insurance, property taxes, and homeowner association fees. Housing expense is sometimes referred to as PITI, standing for principal, ...

Same as term housing expense. The sum of the monthly mortgage payment, hazard insurance, property taxes, and homeowner association fees. Housing expense is sometimes referred to as PITI, ...

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 mortgage insurance premium is a policy that insures the lender against loss if the homeowner defaults on a mortgage. ...

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. ...

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

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 ...

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 ...

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