All the combinations of interest rate and points that are offered on a
particular loan program. On an ARM, rates and points may also vary with the margin and interest rate
maximum.
A mortgage loan transaction in which the lender assumes responsibility for
an existing mortgage.
A wrap-around can be attractive to home sellers because they may be able to sell their ...
The longest period for which the lender will lock the rate and points on any
program. On most programs, the longest lock period is 90 days; some go to 120 days and a few to 180
days. It ...
Inserting provisions into a loan contract that severely disadvantage the borrower, without the borrowers knowledge, and sometimes despite oral assurances to the contrary. Prepayment ...
The party advancing money to a borrower at the closing table in exchange for a
note evidencing the borrowers debt and obligation to repay. Retail, Wholesale, and Correspondent
Lenders: ...
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 ...
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 ...
RealEstateAgent.com calculator estimates the tax benefit of buying a home. Input your loan parameters and the month you purchased the home. Since home interest and points are captured in ...
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 ...
Wondering what is the effect of paying extra principal on a mortgage – if there’s any?
Well, it actually does have a big effect and – if you do have available funds to do ...
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. ...
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, ...
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