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

Pike mortgage rates news:

Pike board approves toll hike - Boston Globe
The Massachusetts Turnpike Authority board voted 4-1 today in favor of an unprecedented toll increase, approving a 75 cent hike at the Weston and Allston-Brighton tollbooths and a $3.50 surge at the Sumner and Ted Williams tunnels. The plan would ...

Residential Real Estate - Seattle Business Journal
Over the next year, hundreds of new condominiums, spread across four eye-catching towers, will open in downtown Seattle even as the region’s housing market tumbles. For the developers of these luxurious towers, opening day will be a day of ...

School for the blind starts visionary newsroom - Newark Star-Ledger
Ed Murray/The Star-Ledger Judy Ortman, interim executive director of the Concordia Learning Center, is interviewed by student Indigo Estevez from Newark for the school paper. There's a buzz in the newsroom of a New Jersey start-up newspaper, and not ...

With upfront payments, toll road operators bank on future revenue - Dallas Morning News
Profit now, pay later. That is the familiar Wall Street mantra behind the push for toll roads that has swept Texas and other states in recent years. Private companies and public agencies have paid billions for the chance to collect your tolls. States ...

Mortgage rates are plunging as credit crisis thaws - Cleveland Plain Dealer Blog
Mortgage rates went into a free-fall this week, dropping by a half-point on average nationwide and by more than three-fourths of a point at one major local bank. Experts cite some thawing -- at last -- in a credit environment where banks were ...

Single parent gets help adjusting her budget - Seattle Times
If you would be interested in a free financial makeover in exchange for having your story and photo published in The Times, answer a few brief questions at seattletimes.com/ yourmoneysurvey . After nearly 20 years of living hand-to-mouth while making ...

NZ Shares: NZX follows world markets down - New Zealand Herald
The New Zealand sharemarket fell sharply in early trading, following the lead of overseas markets and despite an unprecedented cut in official interest rates. Around 10.10am the benchmark NZX-50 index was down 48.58 points, or 1.68 per cent, to 2850 ...

Margareta Pagano: No ifs or butts: Obama has to stick to his guns - The Independent
So, what are we fighting for today? Soldiers demand an end to 'farcical' lack of war leadership Nick Clegg: Tackling the terrorists requires more troops – and a plan Leading article: Obama offers new hope in Afghanistan A C Grayling: Euphoria will ...

Cheaper gas prices prevail on West Shore - Patriot-News
CHRISTINE BAKER, The Patriot News SHEETZ on Harrisburg Pike in Carlisle is selling regular unleaded gasoline at $1.91. Elliot Markovitz is like most drivers in the midstate: He is baffled by why gasoline is so much cheaper on the West Shore than on ...