No-Change Scenario

The period until the last payment is due. The maturity is usually but not always the same as the period used to calculate the mortgage payment. ...

Prices that assume a more or less standardized set of transaction characteristics that generally command the lowest prices. Generic prices are distinguished from transaction specific ...

A non-citizen with a green card employed in the U.S. Non-permanent resident aliens are subject to somewhat more restrictive qualification requirements than U.S. citizens. Permanent ...

Markets in which mortgages or mortgage-backed securities are bought and sold. 'Whole Loan' Markets Versus Securities Markets: Secondary mortgage markets are of two general types. 'Whole ...

The loan balance remaining at the time the loan contract calls for full repayment. ...

Same as term Points: An upfront cash payment required by the lender as part of the charge for the loan, expressed as a percent of the loan amount; e.g., '3 points' means a charge equal to ...

The amount the borrower promises to repay, as set forth in the loan contract. The loan amount may exceed the original amount requested by the borrower if he or she elects to include ...

Limit on the size of payment change on an adjustable rate mortgage. ...

A mortgage banker is a company that originates mortgages and sells them to a secondary market. ...

A lease purchase mortgage is a financing option that allows potential homebuyers to lease a property with the option to buy. Often constructed so the monthly rent payment covers the owners ...

Mortgage companies use ratios to analyze your mortgage payment. The housing payment ratio (or front ratio) used in this calculation is 30%. The housing expense, or front ratio, compares ...

Fannie Mae is a name used by the Federal National Mortgage Association, which is a government-chartered, non- bank, financial services company and the nations largest source of financing ...

This APR Calculator can be used to estimate the Annual Percentage Rate for a loan based on input parameters. There are various ways that companies compute APR. Mortgage Loan Fees may ...

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. ...

Jumbo mortgages are mortgages larger than the limits set by Fannie Mae and Freddie Mac. A jumbo mortgage carries a higher interest rate than a conventional mortgage. ...

A morgagee is the lender. ...