Principal

A Web site of an individual lender offering loans to consumers. Most Internet shoppers want a list of lenders in whom they can have confidence, who will provide them with the information ...

A reduction in the mortgage payment made by a homebuyer in the early years of the loan in exchange for an upfront cash deposit provided by the buyer, the seller, or both. How Temporary ...

The policy of a second mortgage lender toward allowing a borrower to refinance the first mortgage while leaving the second in place. ...

The amount the borrower owes at maturity. ...

Fees collected by a loan officer from a borrower that are lower than the target fees specified by the lender or mortgage broker who employs the loan officer. An underage is the opposite ...

A payment made after the grace period stipulated in the note, usually 10-15 days. ...

Same as term Negative Points: Points paid by a lender for a loan with a rate above the rate on a zero point loan. For example, a lender might quote the following prices: 8%/0 points, ...

The amount the borrower is obliged to pay each period, including interest, principal, and mortgage insurance, under the terms of the mortgage contract. Paying less than the scheduled ...

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. ...

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 ...

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, ...

A mortgage insurance premium is a policy that insures the lender against loss if the homeowner defaults on a mortgage. ...

A type of purchase in which the buyer assumes the responsibility of making payments on a sellers home. ...

A convertible ARM is an adjustable- rate mortgage (ARM) that can be converted into a fixed rate mortgage under certain conditions. ...

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 ...

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 ...