Rate/Point Break-Even
The period you must retain a mortgage in order for it to be profitable to pay points to reduce the rate.
Popular Mortgage Terms
A lender who specializes in lending to sub-prime borrowers. ...
The number of days for which any lock or float-down holds. The longer the period, the higher the price to the borrower. ...
The sum of all interest payments to date or over the life of the loan. This is an incomplete measure of the cost of credit to the borrower because it does not include upfront cash ...
A credit report contains detailed information regarding the relationship history of an individual with several financial institutions. How do I get a Credit Report?You ask a credit bureau. ...
A borrower who submits applications through two loan providers, usually mortgage brokers, without their knowledge. Home purchasers sometimes submit more than one loan application as a way ...
A biweekly mortgage on which biweekly payments are applied to the balance every two weeks, rather than monthly, as on a conventional biweekly. ...
A reverse mortgage program administered by FHA. ...
A lender that provides loans through mortgage brokers or correspondents. ...
One or more persons who hove signed the note and are equally responsible for repaying the loan. When One Co-Borrower Has Much Better Credit than the Other: A problem that arises frequently ...
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