Blended Rate
Definition of "Blended rate"
Interest rate that exceeds the rate on the old loan but in less than the rate on new loans. It is usually offered by the lender to encourage home buyers to refinance existing, low interest rate loans as an alternative to assuming the existing loan.
Popular Real Estate Terms
Legal order for a person to present at a deposition or trial documents in his possession, such as related to a real estate transaction. ...
Legal contract in which the lender controls the pledged property being financed. The agreement describes the property and its location. Of default occurs, the lender may sell the ...
Individual who has a legal obligation to pay money to another. ...
Loan in which two or more lenders participate in the total financing of a single mortgage. The lenders in a piggyback loan do not necessarily have equal shares. ...
Detailed financial accounting of all the credits and debits for the buyer and seller upon consummation of a real estate sale. ...
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