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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
Pike home equity loans news:
Financial News
Consumer Borrowing in U.S. Falls Record $7.9 Billion (Update1) - Bloomberg
Jan. 8 (Bloomberg) -- Consumer borrowing dropped by a record $7.9 billion in November as Americans scrambled to boost savings in face of the deepening recession and amid an investor exodus from securities backed by credit-card and other loans. The ...

Bankers expect a year of living painfully - East Bay Business Times
Even banks that are fairly strong are feeling the pain, says Bank of Marin’s Colombo. Bankers and their borrowers are going to be in a great deal of pain this year. How much worse can things get? The quick answer: a lot. “The big banks are going ...

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