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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
Clarke mortgage loan news:
Financial News
Business Briefs - Herald News
NEW YORK -- The world's third-largest independent chemical company has denied reports it defaulted on millions in loans. LyondellBasell Industries AF was downgraded Tuesday by credit ratings agencies Standard & Poor's and Moody's. The company was ...

Veterans of ’90s Bank Bailout See Opportunity in Current One - The Ledger
WASHINGTON — A tight-knit group of former senior government officials who were central players in the savings and loan bailout of the 1990s are seeking to capitalize on the latest economic meltdown, enjoying a surge in new business in their work ...

Rose on pay and VAT - bbc
Well Sir Stuart Rose, the chairman of Marks & Spencer, was characteristically blunt when I interviewed him earlier today. "I certainly won't be taking a pay rise" he told me. "It would be inappropriate for me to do so...I am 99.99% certain there won ...

While the Tory leader has announced a string of economic policy ideas ... - Guardian Unlimited
Gordon Brown and his ministers seem to have adopted the Goebbels principle of propaganda, hoping that the more often they repeat an allegation, the more likely a gullible public is to believe it. Over the past month they have repeatedly accused the ...

No. 1: The economy - Winchester Star
Winchester — It’s been called the mortgage crisis, the housing slowdown, the economic downturn, and the credit crunch. Some alarmists even called it the second Great Depression. A line of people waits at the former Rich food-products plant on ...

Register for FREE - Wall Street Journal
Please register to gain free access to WSJ tools. An account already exists for the email address entered. New York Times columnist David Brooks took a nice stroll today through the Wall Street and corporate donors to Barack Obama’s campaign. Then ...

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