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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.
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White mortgage rates news:
JPMorgan, Facing Federal Probe, Exits Municipal Swaps (Update3) - BloombergSept. 4 (Bloomberg) -- JPMorgan Chase & Co. will stop selling interest-rate swaps to government borrowers in the $2.6 trillion U.S. municipal bond market roiled by an antitrust probe and the near bankruptcy of Alabama's most-populous county. At least ...
Government got what it asked for in housing bust: Caroline Baum - IndependentShare In its rush to hold hearings, assign blame and seek redress for the collapse of the housing market, the U.S. Congress has looked every which way but inward. No wonder. Homeownership-for-all has been a goal of policy for so long lawmakers have ...
Euro Snaps Five-Day Decline Against Dollar Before Rate Decision - BloombergSept. 4 (Bloomberg) -- The euro snapped five days of declines against the dollar and the yen on speculation the European Central Bank will signal today it will resist cutting interest rates any time soon. Policy makers will keep the euro-region's key ...
iEmergent Announces its Preliminary 2009-2013 Mortgage Volume ... - TMCnetDES MOINES, Iowa --(Business Wire)-- iEmergent, a Des Moines, Iowa-based market research, forecasting and advisory services firm for the financial services, mortgage and real estate industries, issued its Preliminary Mortgage Volume Forecasts for ...
Abington Bancorp, Inc. Announces Thomas J. Wasekanes Appointed as New ... - MSN MoneyCentralAbington Bancorp, Inc. (the "Company") (NASDAQ: ABBC) announced today that Thomas J. Wasekanes has been promoted to Senior Vice President of the Company and Senior Vice President and Chief Lending Officer of the Company's wholly owned subsidiary ...
Brasch Words - American ReporterBLOOMSBURG, Pa. -- President George W. Bush gazed into the cameras on a Tuesday morning in July and tried to assuage the fears of about 300 million Americans who believed they were in the middle of a recession. "The economy is growing," said the ...
Business Minute: Stocks surge...Oil falls sharply...Manufacturing ... - Idaho8.comNEW YORK (AP) - Stock prices are surging strongly in the early going, helped by falling oil prices. The Dow has been up more than 200 points in the first hour of trading. NEW YORK (AP) - Amid indications that the Gulf Coast's oil interests were ...
Brown announces stamp duty holiday in housing rescue package - Times OnlineProperties costing less than £175,000 will be exempt from stamp duty for the next year in an attempt by the Prime Minister to revive the stagnant housing market and to relaunch his own faltering premiership. The £600 million measure will take more ...
Telwater lays off 100 workers - International Boat IndustryCoomera-based Telwater has laid off 100 of its workers, citing lower boat orders in a struggling Australian economy. The manufacturer of the Quintrex and Stacer brands told local news sources that the layoffs represent about a third of its staff ...
Shrum/McCain '08! - SlateShrum/McCain '08: Is Bob Shrum working for McCain too? I just went back and watched the video of the McCain/Palin rollout in Dayton, Ohio. I hadn't realized that McCain's introductory remarks were boilerplate Shrumian populism. McCain says he wants ...
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