Net Jumping
Definition of "Net Jumping"
Using a brokers time and expertise to become informed and creditworthy, then jumping to the Internet to get the loan.
Popular Mortgage Terms
The method of financing used when a borrower contracts to have a house built, as opposed to purchasing a completed house. Construction can be financed in two ways. One way is to use two ...
The period between payment changes on an ARM, which may or may not be the same as the interest rate adjustment period. ...
After reaching a certain annual income, you might be interested in finding the definition of a jumbo mortgage. What is a jumbo loan? It is something like a mortgage with ...
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 ...
A mortgage Web site that shows mortgage prices posted by participating lenders, in some cases hundreds of them. ...
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 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 ratio of housing expense to borrower income. This ratio is one factor used in qualifying borrowers. ...
The month in which a zero loan balance is reached. The payoff month may or may not be the loan term. ...
Have a question or comment?
We're here to help.