Same as term housing expense. The sum of the monthly mortgage payment,
hazard insurance, property taxes, and homeowner association fees. Housing expense is sometimes
referred to as PITI, standing for principal, interest, taxes, and insurance.
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 ...
Rates and points quoted by loan providers. You cannot safely assume that
mortgage price quotes are always timely, niche-adjusted, complete, or reliable. Timeliness: Most
mortgage lenders ...
Refinancing that omits some of the standard risk control measures and is
therefore quicker and less costly. The rationale for streamlined refinancing is that, while it is an
entirely new ...
A fee that some lenders charge to accept an application. It may or may not cover other costs such as a property appraisal or credit report, and it may or may not be refundable if the lender ...
A charge imposed by the lender if the borrower pays off the loan early. The
charge is usually expressed as a percent of the loan balance at the time of prepayment or a specified
number of ...
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 ...
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 ...
Paying points for a lower interest rate is a trade off between paying money now versus paying money later. A point - equaling 1% of the total loan amount - is an upfront fee that reduces ...
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 ...
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 ...
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