What Happens When You Prequalify?

Wondering how big is an acre?It is common to hear people say that it's almost the size of a football field without both end zones. But sometimes *almost* is not enough and you need to know ...

An interest rate is the percentage the lender charges you for borrowing money. ...

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

An appraisal is an estimate of the value of a certain property by a qualified, independent individual. ...

A counteroffer is an offer made by one party that makes changes to the original or latest offer of the other party. ...

A point is equal to 1 percent of a loan amount. Lenders charge points in exchange for lowering the interest rate. ...

A sales contract is the contract you draw up when you want to make an offer on a home. ...

A gift letter is when an individual gives you money for a down payment as a gift, that person must write you a gift letter so that it can be included in your loan documentation. ...

A saving bank owned by its depositors. They are mostly located in the northwestern United States and are an important supplier of real estate financing. All mutual savings banks are state ...

Any person, company, or legal entity who signs a check or note to borrow money. By signing a payment instrument, the maker assumes full financial responsibility. For example, John is the ...

Term used in the real estate industry describing the price requested by a property owner vs. the price a buyer is willing to pay. Bid is the highest price a purchaser is willing to pay ...

Short-term leases are leases that run its completion in a faster time than regular ones.In real estate, short term-leases usually refer to temporary housing; that is: rent.The length of a ...

The proportionate division of expenses including taxes, interest, insurance, rents, and other property-related expenses at a closing between the buyer and the seller. ...

Schedule showing the breakdown of each loan payment that consists partly of interest and partly of principal. ...

Is a stockholder-owned corporation known as Freddie Mac. Freddie Mac purchases investment-quality mortgage from lenders and packages from lenders and packages them as securities which are ...

Reduction in the normal rental charge to attract prospective tenants or keep existing tenants at lease renewal. Discounts may be given to obtain a higher occupancy rate, make it easier of ...