Shopping Site


Definition of "Shopping Site"

A multi-lender Web site that offered borrowers the capacity to shop among multiple competing lenders.

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Popular Real Estate Terms

Discretionary ARM

An ARM on which the lender has the right to change the interest rate at any time, for any reason, by any amount, subject only to a requirement that th ...

Lead-Generation Sites

A mortgage Web site designed to provide leads to lenders. A 'lead' is a packet of information about a consumer in the market for a loan. Lenders pay ...

Swing Loan

Same as term Bridge Loan: A short-term loan, usually from a bank, that 'bridges' the period between the closing of a home purchase and the closing of ...

Warrantable Condo

A condominium project with features that lenders view as favorable in terms of their risk exposure on loans secured by individual condo units. The re ...

Maturity

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. ...

Mortgage

A written document evidencing the lien on a property taken by a lender as security for the repayment of a loan. The term 'mortgage' or 'mortgage loan ...

Popular Real Estate FAQ

What Is An Annuity?

An annuity is a long-term, interest-paying contract offered through an insurance company or financial institution. An annuity can be \"deferred\" as a ...

What Is A Fixed-rate Mortgage?

A fixed-rate mortgage is a type of mortgage in which the interest rate is fixed for the life of the loan. ...

What Is The APR For This ARM Loan?

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 com ...

What Does A Back-end Ratio Mean?

A borrowers other debts, such as auto loans and credit cards, figured into the debt-to-income ratio. ...

What Is A Housing Ratio?

A housing ratio is the percentage of your housing payment (principal, interest, taxes, and insurance) to your monthly gross income. Lenders use this r ...

What Is An Index?

An index is an economic indicator used to set the rate for adjustable-rate mortgages. ...

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