The form that lists the settlement charges the borrower must pay at closing, which the lender is obliged to provide the borrower within three business days of receiving the loan application.
Standards imposed by lenders as conditions for granting loans,
including maximum ratios of housing expense and total expense to income, maximum loan amounts,
maximum loan-to-value ...
A government-owned or -affiliated lender that makes home loans directly to consumers. With minor exceptions, government in the U.S. has never loaned directly to consumers, but housing banks ...
A second mortgage on a property that is not paid off when the first
mortgage is refinanced. The second mortgage lender must allow subordination of the second to the new
first mortgage. ...
A home built entirely in a factory, transported to a site, and installed there.
Manufactured homes are distinguished from 'modular,' 'panelized'' and 'pre-cut' homes. Manufactured
houses ...
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 ...
Adjustable rate mortgages on which the interest rate is mechanically determined based on the value of an interest rate index. Indexed ARMs are distinguished from Discretionary ARMs, in that ...
All foreclosures have the same cause - missed payments. Financial difficulties come without notice. You may lose your job overnight, your business may no longer fight with the competition, ...
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 ...
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 ...
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 ...
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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