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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
Jenkins mortgage loans news:
Financial News
Chancellor Alistair Darling on brink of second bailout for banks - Times Online
Alistair Darling has been forced to consider a second bailout for banks as the lending drought worsens. The Chancellor will decide within weeks whether to pump billions more into the economy as evidence mounts that the £37 billion part ...

Matter of Record, January 5 - Wichita Falls Times Record News
State Farm Mutual Automobile Insurance Co. vs. Joshua Eric Melton, 4118 Palomino, $4,616.49, V3317 P802. County of Williamson vs. Travis A. Holland, et al, 1419 N. 7th, $2,025.29, V3318 P20. Gant, Kenneth Adrian, Wichita County, Chapter 7, Date Filed ...

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