The maximum allowable ratio of loan-to- value (LTV) on any loan
program. Generally, these are set
by mortgage insurers or by lenders and can range up to 100%, although some programs will go above
100%.
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 ...
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 ...
You saw a property you love and want to buy it, but you have no money to do that. So you ask us how do you buy a house with no money.
Well, that’s a funny question… if you ...
The time is here: you decided you will buy a home. Congratulations!
But soon after you get motivated to do, conscience kicks in and makes you ask yourself: how much income do I need to buy ...
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 ...
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, ...
Are you like “OMG! I forgot my mortgage payment! What happens now? Will I have to pay double the value I had to pay?! Are the cops coming to get my house?!”
Calm down. ...
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 ...
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