Market Niche
A particular combination of loan, borrower, property, and transaction characteristics that lenders use in setting prices and underwriting requirements.
Popular Mortgage Terms
The interest rate used in calculating the initial mortgage payment in qualifying a borrower. The rate used in qualifying borrowers may or may not be the initial rate on the mortgage. On ...
The number of months for which the initial interest rate holds on an ARM. ...
Same as term Mortgage Company: A mortgage lender that sells all the loans it originates in the secondary market. ...
The payment of principal and interest made by the borrower. ...
In connection with a home, the value of the home less the balance of outstanding mortgage loans on the home. ...
A revers mortgage program administered by Fannie Mae. ...
The interest rate that is fixed for some specified number of months or years at the beginning of the life of an ARM. ...
A variety of unsavory lender practices designed to take advantage of unwary borrowers. Predatory lending covers much the same ground as Mortgage Scams and Tricks/Scams by Loan Providers. ...
Rolling short-term debt into a home mortgage loan, either at the time of home purchase or later. The Case for Consolidation: Borrowers consolidate in order to reduce their finance costs. ...
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