Today's Mortgage Terms starting with C

Cash To Close:

Liquid assets that are available on hand for payment of closing costs involved in the processing of a mortgage transaction.

Closing:

The completion of a real estate transaction. The closing includes the delivery of a deed, financial adjustments, signing of notes and disbursement of funds required to finalize the sale and loan transaction.

Closing Costs:

Fees generally paid by the borrower in relation to the closing of a mortgage loan.

Collateral:

Property pledged as security for a debt.

Conforming Loan:

Conventional home mortgages eligible for sale and delivery to either the Federal National Mortgage Association (FNMA) or the Federal Home Loan Mortgage Corporation (FHLMC). These agencies generally buys first mortgages up to loan amounts approved by Congressional directive.

Conventional Loan:

Loans that are not part of any government housing program, free of any restrictions of government insured housing programs, such as loan size limits.

Conversion Clause:

A feature in certain ARMs that gives you the option to convert the variable rate loan to a fixed-rate loan, usually after the first adjustment period. The new fixed rate will be set at current rates and there could be a fee for the conversion feature.

Convertible ARM:

A type of ARM loan that can be converted to a fixed-rate loan after a certain time period.

Covenant:

A clause in a contract that obligates or restricts the parties and if broken, can result in a legal action.

Credit Bureau:

It is a clearinghouse for credit history information.

Credit Report:

A report containing a detailed credit history of an individual.

View all Terms

Holmes mortgage rates news:

Will anything end the panic? - Guardian Unlimited
It was nineteen minutes to noon on Wednesday when Gordon Brown took the call from Mervyn King. With the seconds ticking away to the first Prime Minister's Questions since the summer break, the governor of the Bank of England had dramatic news: secret ...

Americans finding it harder to borrow money - Houston Chronicle
An inflatable gorilla beckoned from the roof of Don Brown Chevrolet in St. Louis, servers doled out free bowls of pasta and a salesman urged potential customers to "come on up under the canopy and put your hands on" a new set of wheels. But sitting ...

NO MONEY DOWN? THINK AGAIN -- The era of easy credit may be over - Lowell Sun
Dolores Holmes stands on the porch of The Bridgestreet House Bed & Breakfast that she owns in Lambertville, N.J. "I've been cutting back on anything personal," she said. "It's like everything I have has to go back into the business." AP PHOTO An ...

McCain Calls for Suspending Rule on Retirement Accounts - Wall Street Journal
Elizabeth Holmes reports from Minneapolis on the presidential race. John McCain called for suspension of the requirement that retirees must begin liquidating their retirement accounts when they reach age 70 and a half, the latest economic policy ...

Consumers' credit getting not so easy - Dallas Morning News
An inflatable gorilla beckoned from the roof of a St. Louis car dealership, and a salesman urged customers to "put your hands on" a new set of wheels. But sitting across from a salesman in a quiet back room, Adrian Clark could see it would not be ...

Unsinkable economic ship? One lookout saw this iceberg coming - Tacoma News Tribune
Disasters, I’m convinced, occur not because of one drastic misstep but because of a series of disparate, often unrelated occurrences. Remove any one of those occurrences and the disaster would not have happened. Take the sinking of the Titanic in ...

Conservative Evangelical Vote Still the Republican Party's to Lose - ABC News
Dennis Barbee cares about low taxes. He also wants a strong economy and solid national security. Above all else, the registered nurse from Spring Hill, Tenn., is basing his vote this November on moral issues. "Making sure human beings have a right to ...

Authorities ID informant - Log Cabin Democrat
The Faulkner County Sheriff's Office has identified the informant whose descriptions led to the remains of a murder victim in Jacksonville. Lt. Matt Rice of the sheriff's office said the informant was Ronald Dean Charles of Cabot, who was arrested in ...

Easy credit may be history - Inside Bay Area
An inflatable gorilla beckoned from the roof of Don Brown Chevrolet in St. Louis, servers doled out free bowls of pasta and a salesman urged potential customers to "come on up under the canopy and put your hands on" a new set of wheels. But sitting ...

Talking Point: What can save the plunging markets? - ksl.com
until after president bush announced there was a problem and started pushing the bailout. If the president would have kept his mouth shut, and not scare everybody with an unfounded sense of urgency, doom and gloom, the market would have slowly ...