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Today's Mortgage Terms starting with L

Lender:

The bank, mortgage company or mortgage broker providing the loan.

Loan Application:

A statement of personal and financial information needed to apply for a loan.

Loan Application Fee:

A fee applied by a lender to cover the initial costs of putting through a loan application. The fee could include the cost of getting a property appraisal, a credit report and a lock-in fee and other closing costs incurred to complete the transaction.

Loan Origination Fee:

Fee charged by a lender for the administrative costs of processing a loan.

Loan to Value Ratio (LTV):

The balance of the mortgage outstanding as a percentage of the home's price.

Lock or Lock In:

A lender's guarantee of an interest rate for a specific period of time. The time period is usually between the loan application approval and loan closing. The borrower wants the lock to stay in effect until closing.

View all Terms
Lake mortgage rates news:
Financial News
Robust birth rate, falling lending rates, could spur recovery - Salt Lake Tribune
Utah's fertile birthrate, coupled with falling mortgage rates, could spark a housing recovery in the second half of this year, a Wells Fargo bank economist said Tuesday. Only 6,000 single-family home permits were issued in 2008, and the number ...

Economists offer guidance to Utahns for '09 - Salt Lake Tribune
Probably not quickly enough to suit most folks. In Utah, in 2009, "We're still going to have more layoffs and more home price depreciation," said Mark Knold, chief economist with the Utah Department of Workforce Services. Much of his prediction stems ...

Bank worker admits sharing child porn - Buffalo News
A Blasdell man who works in the field of information technology pleaded guilty Monday to a felony charge of possession of Internet images of child pornography. The U. S. attorney’s office said John Cote, 49, of Lake Avenue, faces a prison term of ...

Unable to sell, some homeowners become landlords - Northwest Herald
Jacquie Buschbacher works as a property manager, but she never thought she would be renting out her own home. After her Crystal Lake town house languished on the market for nine months with few buyers showing interest, Buschbacher changed her mind ...

Interest rate set to hit record low - Kingston Guardian
Interest rates are set to hit a record low this week as the Bank of England grapples with a deepening recession. The Bank's official rate has never fallen below the current 2% in its 315-year history, but experts predict a cut of as much as 1% on ...

Hupke To Head Board - TriVallyCentral
Keith Hupke,Langford and commissioner for district 3 will be chairman of the Marshall County Commissioners for 2009. The Marshall County Board of Commissioners reorganized for 2009 at its first meeting of the year on Tuesday. Keith Hupke, board ...

As Home Prices Drop, Some Buyers See Opportunity - Flathead Beacon
A slowing economy and the troubles plaguing the national housing market have potential buyers in the Flathead Valley tip-toeing around home and building investments at a time local professionals say they should be jumping in. “In terms of times to ...

Group plans to protest Redford's environmental views at film festival - ksl.com
Mr. Redford needs to practice what he preaches! One example: I remember driving through Provo Canyon a few months ago and seeing a fairly new green SUV flying by me at speeds well above the speed limit. After catching up to this vehicle by chance ...

Seattle-area home sales fall in Dec. to end a down year - Seattle Times
December's typically a slow month for home sales. Throw a snowstorm and flagging consumer confidence into the mix and you get the 11th consecutive month that home prices sagged in the Puget Sound region compared to the same month a year earlier. "It ...

Entries for January 2009 - US News and World Report
Our wish has come true. We all wished that 2008 would end, expecting that 2009 has to be a better year. I am rooting for a better year this year than last, but there is still a long list of what could go wrong. Let’s start with what could go right ...

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