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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

Fountain mortgage rates news:

The Wall Street Bailout was Justified - Nolanchart.com
If I were a Wall Street banker right now, I’d be screaming blue murder at the government over this latest crisis and demanding redress. The plain fact is, through government legislation, we the people cost they the bankers 700 billion dollars or ...

At last, some good news from the housing market - Colorado Springs Gazette
The Pikes Peak region's housing market got some much-needed good news last month. Single-family home sales in September rose 5.6 percent when compared with the same month last year, according to figures released Thursday by the Pikes Peak Association ...

Sarah Palin Tones it Down a Notch - ABC News Blogs
ABC's Imtiyaz Delawala and Ron Claiborne report: Gov. Sarah Palin significantly ratcheted down the rhetoric from her campaign speeches last week Sunday evening at an outdoor rally in Brush Run Park in St. Clairsville, OH, making no mention of Sen ...

October September August July June May April March February January ... - Nypress.com
Coming off their best-ever season and being ranked in the preseason polls for the first time in their history, it wouldn’t have surprised anyone if the No. 12 Rutgers Scarlet Knights came out a little overconfident versus lowly University of ...

How will the $700 billion rescue affect you? - Ahwatukee Foothills News
Friday, Oct. 3, 2008, will be remembered as the day the real estate market hit bottom and began the slow but inevitable turn from a "buyers" market to a "sellers" market. The primary purpose of the rescue plan is for the federal government to ...

Region's home sales rose in September - Colorado Springs Gazette
The Pikes Peak region's housing market got some much-needed good news last month. Single-family home sales in September rose 5.6 percent when compared with the same month last year, according to figures released Thursday by the Pikes Peak Association ...

Ariz. lawmakers: Bailout distasteful but needed - East Valley Tribune
Arizona lawmakers were willing to put aside their sharp ideological differences on the proposed financial bailout on Friday to keep the measure alive. Speaking separately, Republicans Sen. Jon Kyl and Reps. Jeff Flake and John Shadegg, and Democratic ...

Saying ‘No Deal’ to This New Deal - Common Dreams
The marriage of American capitalism and democracy has always been a Pamela Anderson and Tommy Lee affair-stormy and erratic since its hasty wedding. But during the debate over a Wall Street bailout this week, we watched that matrimonial knot unwind ...

Is town fiscally fit? - Fountain Hills Times
The Town Council will begin planning the town budget for the next fiscal year with a strategic planning session later this week, and one thing is for sure there will be a lot of questions swirling around the process. The council has traditionally ...

Popular Anger Puts Fat Cat CEOs on the Run - Common Dreams
NEW YORK — An angry US public and Congress are pushing to snip the rip cord on golden parachutes used by fat cat CEOs to escape Wall Street's mayhem. Democrats in Congress -- set to resume emergency talks Friday with their Republican counterparts ...