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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
Nantucket mortgage loans news:
Financial News
Summit participants ponder Cape's economic, demographic problems - Cape Cod Today
A year ago, demographer Peter Francese warned the first Cape Cod Economic Summit that demographic trends showed that population growth on the Cape, long one of the fastest growing areas in New England, had essentially stopped, and that the Cape ...

CapeCodToday Blog Chowder - Cape Cod Today
mav.. Contact me regarding website. I am serious about developing one.. Forget the wind farm.. It's the least of our worries of what's to come.. Plus By the time it's built and up and running.. Only the rich and famous will be living here.. after ...

Nantucket’s own “Joe the Plumber” sues mortgage co. for unfair ... - Inquirer and Mirror
(Oct. 23, 2008) Ohio’s Joe the Plumber made national headlines after he challenged Democratic presidential candidate Barack Obama on his tax policies, but Nantucket’s own Joe the Plumber has his own problems to worry about. After falling behind ...

From Empire to Democracy - Common Dreams
This current financial crisis is a major way-station on the way to the collapse of the American empire. The first important sign was 9/11, with the most heavily-armed nation in the world shown to be vulnerable to a handful of hijackers. And now ...

RBS to stay private? - bbc
Whisper it softly, but there's just a chance that Royal Bank of Scotland won't be nationalised after all. Its shares have been lifted this morning on the wave of global stock-market euphoria to around 70p, a margin above the 65.5p price being paid by ...

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