Graduated Payment Mortgage (GPM)
A mortgage on which the payment rises by a constant percent for a specified number of periods, after which it becomes fully-amortizing.
Popular Mortgage Terms
A Web site of an individual lender offering loans to consumers. Most Internet shoppers want a list of lenders in whom they can have confidence, who will provide them with the information ...
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 ...
A mortgage loan for 125% of property value. Since such loans are only partly secured, they have many of the characteristics of unsecured loans, including relatively high interest rates. ...
A lender that holds the loans it originates in its portfolio rather than selling them. ...
A documentation option where the applicant's income is disclosed and verified but not used in qualifying the borrower. The conventional maximum ratios of expense to income are not ...
A reverse mortgage program administered by FHA. ...
A federal agency that guarantees mortgage securities that are issued against pools of FHA and VA mortgages. ...
Belief that there is a special way to pay down the balance of a home mortgage faster, if you know the secret. ...
Same as term Lead Generation Site: A mortgage Web site designed to provide leads to lenders. A 'lead' is a packet of information about a consumer in the market for a loan. Lenders pay ...
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