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Today's Mortgage Terms starting with D

Default:

Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.

Discounted Loan:

When the note rate on a loan is lower than the market rate, it is a discounted loan.

Discount Point:

A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.

Down Payment:

The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.

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Saline mortgage loan news:
Financial News
Dozens vying for Algonac city manager - Port Huron Times-Herald
More than 30 people have applied to be Algonac's next city manager, and the interim manager isn't one of them. Joseph Sobota, who is the city's treasurer and clerk and has served as manager since Chris Wilson left for another job Aug. 1, said he didn ...

police blotter - Salina Journal
MARRIAGE LICENSES -- Francisco Ayala, 22, and Maria G. Duran, 23, both of Concordia; Christopher W. Skelton, 27, and Jenina M. Strader, 23, both of Salina; Christopher A. Fritz, 26, and Jennifer Ann Marie Henderson, 26, both of Gypsum; Robert A. Bade ...

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