Total Housing Expense
Housing expense plus current debt service payments.
Popular Mortgage Terms
Fees collected by a loan officer from a borrower that are lower than the target fees specified by the lender or mortgage broker who employs the loan officer. An underage is the opposite ...
Equations used to derive common measures used in the mortgage market, such as monthly payment, balance, and APR. ...
The lowest interest rate possible under an ARM contract. Floors are less common than ceilings. ...
The number of months for which the initial interest rate holds on an ARM. ...
Same as term Mortgage Company: A mortgage lender that sells all the loans it originates in the secondary market. ...
A mortgage lender or mortgage broker. ...
Same as term Interest Rate: The rate charged the borrower each period for the loan of money, by custom quoted on an annual basis. A mortgage interest rate is a rate on a loan secured by a ...
A lender who offers mortgage loans directly to the public. ...
The frequency of rate adjustments on an ARM after the initial rate period is over. The rate adjustment period is sometimes but not always the same as the initial rate period. As an example, ...
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