Seller Contribution

In connection with a home, the value of the home less the balance of outstanding mortgage loans on the home. ...

A document that evidences a debt and a promise to repay. A mortgage loan transaction always includes a note evidencing the debt, and a mortgage evidencing the lien on the property. ...

The definition of a reverse mortgage is important for homeowners 62 and older who want to supplement their retirement income. What exactly is a reverse mortgage? Some say that it is the ...

Insurance provided the lender against loss on a mortgage in the event of borrower default. In the U.S., all FHA and VA mortgages are insured by the federal government. On other mortgages, ...

Programs offered by some lenders under which a borrower who is able to secure a grant or gift equal to 2% of the down payment will only have to provide a 3% down payment from their own ...

A reverse mortgage program administered by FHA. ...

A particular computerized system for doing automated underwriting. Mortgage insurers and some large lenders have developed such systems, but the most widely used are Fannie Mae's 'Desktop ...

An independent contractor who offers the loan products of multiple lenders, called wholesalers. Mortgage brokers do not lend. They counsel borrowers on any problems involved in qualifying ...

You saw a property you love and want to buy it, but you have no money to do that. So you ask us how do you buy a house with no money. Well, that’s a funny question… if you ...

This calculator figures your principal balance after any number of payments. Input the beginning principal amount, interest rate, length of the loan, and the number of payments to analyze. ...

A wraparound mortgage is a new mortgage that includes the remaining balance on an old mortgage, plus a new amount. ...

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 ...

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

Paying points for a lower interest rate is a trade off between paying money now versus paying money later. A point - equaling 1% of the total loan amount - is an upfront fee that reduces ...

Discover your potential monthly savings by combining your bills into a single source. Eliminate high interest rate credit card and installment loans with a tax deductible (consult you tax ...

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 ...