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Today's Mortgage Terms starting with P

Payment Cap:

A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.

Point:

A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.

Pre-Approval:

The process of calculating how much money a potential homebuyer could borrow.

Prepayment Penalty:

A lender's charge to the borrower for paying down the loan before the end of its term.

Pre-Qualification:

A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.

Principal:

It is the amount of money borrowed or owed, excluding interest.

View all Terms
Maricopa mortgage rates news:
Financial News
Growing state needs a healthy infrastructure - Arizona Daily Star
Arizona's infrastructure is deficient and will not improve without decisive leaders willing to make tough, often unpopular decisions. Up until the early 1990s, Arizona was a planner and investor in infrastructure, according to economist Dennis ...

Arizona mortgage failures fuel crisis - Arizona Daily Star
1. A borrower takes out a loan from a lender to buy a home or to refinance. The borrower makes payments to the lender or a servicing company, which may buy the rights to receive payments. 2. The lender pools the loan with other loans and sells them ...

Time to Step Up Spending? - Oregonian
How is it after railing against budget deficits for 8 years, liberals like Paul Krugman, quickly change their tune when they think their pals will have control of the government? Usually an increase in government spending is followed by and increase ...

Shaping up at fitness camp - AZCentral.com
PLAINVILLE, Conn. -- The first morning the alarm clock went off at 4:15 a.m, I admit I was enthused -- the kind of excitement you feel when you have to get up early to catch a plane to go on vacation. It was my first day of Fitness Boot Camp, a six ...

Letters to the editor: Oct. 31 - East Valley Tribune
Phillip Moon’s argument in favor of the Protect Marriage Proposition (Perspective, Oct. 26), was a great exercise in sophistry. As Moon boils down his view, in a spectacularly inept piece of logic, “Since traditional marriage produces kids, and ...

Letters to the editor: Election issues - East Valley Tribune
We encourage readers to submit letters to the editor on issues of interest to East Valley residents. Submissions should be no longer than 300 words, factually accurate and original thoughts of the writer. Please be brief and include name, address ...

Scott Coles: The story behind the life — and death — of the ... - Phoenix New Times
A Mormon Widower Wasn’t Counting on a Murder Rap When He Followed His Late Wife’s Instruction to Marry His Ex-Lover The girls and their guys — most wearing designer jeans and starched shirts — swarmed through the pristine neighborhood as if ...

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