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

Streamlined Refinancing

Refinancing that omits some of the standard risk control measures and is therefore quicker and less costly. The rationale for streamlined refinancing ...

Mortgage Insurance Premium

The upfront and/or periodic charges that the borrower pays for mortgage insurance. There are different mortgage insurance plans with differing combin ...

Silent Second

A second mortgage offered at preferential (subsidized) terms to those who qualify. For example, a labor union may offer members who are first-time ho ...

Non-Permanent Resident Alien

A non-citizen with a green card employed in the U.S. Non-permanent resident aliens are subject to somewhat more restrictive qualification requiremen ...

Float

Allowing the interest rate and points to vary with changes in market conditions, as opposed to 'locking' them. Floating may be mandatory until the le ...

Net Branch

A facility offered by some lenders to mortgage brokers where de jure the brokers become employees of the lender but de facto they retain their indepe ...

Popular Real Estate FAQ

What Is A Buildable Acre?

A Buildable acre consists of 43,560 square feet of residentially designated buildable land, after excluding present and future rights-of-way, restrict ...

What Do I Need To Know About Motorcycle Insurance?

You need an insurance policy that is tailored in your needs in mind. Take liability for example. Guest passenger liability helps protect you bodily in ...

What Is A Broker?

An agent who is authorized to open and run his/her own agency. All real estate offices have one principal broker. ...

What Are The Benefits Of Business Owners Insurance?

Commercial insurance is designed to help protect many of the risks your business can face, including: damage or destruction to your business vehic ...

What Is A Convertible ARM?

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

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 ...

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