Market Niche

The period used to calculate the monthly mortgage payment. The term is usually but not always the same as the maturity, which is the period over which the loan balance must be paid in ...

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 for leads, and these sites are an ...

The sum of all interest payments to date or over the life of the loan. This is an incomplete measure of the cost of credit to the borrower because it does not include upfront cash ...

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 bundle of mortgage characteristics that lenders view as comprising a distinct category. The characteristics used include whether it is an FRM, ARM, or Balloon, the term, the initial ...

Cost-of-Funds Index, one of many interest rate indexes used to determine interest rate adjustments on an adjustable rate mortgage. ...

Refinancing for an amount in excess of the balance on the old loan plus settlement costs. When the main objective of a refinancing is to raise cash, the relevant question is whether the ...

One of two federal agencies that purchase home loans from lenders. The other is Fannie Mae. ...

Private mortgage insurance is insurance that protects mortgage lenders against default on loans by providing a way for mortgage companies to recoup the costs of foreclosure. PMI is usually ...

A Ginnie Mae is a name for the Government National Mortgage Association (GNMA), which is a government-owned corporation within the U.S. Department of Housing and Urban Development (HUD)> ...

This calculator will amortize your mortgage over the loan period based on your input. To see a breakdown by payment, select the Full Loan Amortization. ...

A second mortgage is a type of mortgage on property that has alien already on the first mortgage. This mortgage is usually on the remaining equity in the home. ...

This calculator figures how much interest savings you will have depending on how much extra you pay monthly. Input an extra payment and calculate your interest savings based on the higher ...

A fixed-rate mortgage is a type of mortgage in which the interest rate is fixed for the life of the loan. ...

Find out what type of home is in your budget by entering a few numbers into our calculator. Our calculator is based on standard affordability ratios used to determine qualification for ...

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. ...