Good Faith Estimate (GFE)

A particular combination of loan, borrower, property, and transaction characteristics that lenders use in setting prices and underwriting requirements. ...

A comprehensive and time-adjusted measure of loan cost to the borrower. IC on a Mortgage: IC is what economists call an 'internal rate or return.' It takes account of all payments made by ...

A lenders requirements regarding how information about income and assets must be provided by the applicant and how it will be used by the lender. The following categories have evolved in ...

The definition of credit risk is at the core of lending. Banks lend money to businesses and individuals and expect to recover the principal and win interest. Banks offer a variety of loans, ...

In connection with a home, the value of the home less the balance of outstanding mortgage loans on the home. ...

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 ...

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, ...

A mortgage on which interest is calculated daily based on the balance on the day of payment, rather than monthly, as on the standard mortgage. ...

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 ...

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. ...

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

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, ...

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 ...

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 ...

A type of purchase in which the buyer assumes the responsibility of making payments on a sellers home. ...

A mortgage broker is an intermediary who ensures a loan between a borrower and lender. The broker takes the loan and then packages for the lender. ...