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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
Saline mortgage loans news:
Financial News
Highlights from history: How America went from 'nation of renters ... - Marshall Democrat-News
Editor's note: Nationwide, the housing market crisis is spreading throughout the economy. Staff writer Kathy Fairchild has been doing research on how the crisis is affecting Saline County, how the situation developed and what people can do to weather ...

62-Year-Old Guenther Homes in Ann Arbor Sees Bright Spot in New Home ... - Market Wire
ANN ARBOR, MI--(Marketwire - December 1, 2008) - Guenther Homes, a 62-year-old new home construction company based here, reported three new home sales in October, and Natalie Ceccolini, third generation member of her family to run the company, thinks ...

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 ...

Labour to break top rate tax pledge - bbc
The pledge not to raise income tax rates was one of the foundations of New Labour. It was designed to reassure voters that the party had no desire to punish those who worked hard, however much they earned. It is to be ditched in the name of fairness ...

Dakota Voice - Dakota Voice
► May 22 - May 29 (1) When I was in the Air Force, I recall one night when a new guy, fresh out of training, came to work on our shift. In military police work, you rely on your "radio" or "portable" quite a bit for communications with the ...

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