The process of determining whether a prospective borrower has the ability to repay
a loan. Qualification Versus Approval: To be approved for a loan, a prospective borrower must ...
The lender's risk that, between the time a lock commitment is given to the borrower
and the time the loan is closed, interest rates will rise and the lender will take a loss on selling ...
The form that lists the settlement charges the borrower must pay at closing, which the lender is obliged to provide the borrower within three business days of receiving the loan application. ...
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 ...
A mortgage loan to an elderly homeowner on which the borrower's debt rises over
time, but that need not be repaid until the borrower dies, sells the house, or moves out permanently.
The ...
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 ...
A contract signed by buyer and seller stating the terms and conditions under which a property will be sold.;
Alternative Documentation;"Expedited and simpler documentation requirements ...
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 ...
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 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 ...
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 ...
Find a Real Estate Agent
Read why Real Estate Agent rates 5 Stars in over 20 Agents Reviews
Have a question or comment?
We're here to help.