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

Knox mortgage quotes news:

Obama Attacks McCain As 'Risky,' 'Erratic' - ABC News Blogs
ABC News' John Berman, Sunlen Miller, and Ursula Fahy report: Barack Obama described John McCain as risky, erratic, and uncertain, and that was all just in his first event of the day. Obama has had no shortage of critiques of McCain in recent weeks ...

"Dancing with the Stars: Brooke Burke - Los Angeles Times Blogs
As you recall, fans, Misty May-Treanor withdrew from competition last week after she ruptured her Achilles' tendon. This meant that no one was eliminated, though we did find out that Rocco DiSpirito would have been sent home if Misty had not pulled ...

Obama says 'better days ahead' - Knoxville News Sentinel
INDIANAPOLIS - Democratic candidate Barack Obama on Wednesday urged Americans not to panic over the faltering economy, saying "there are better days ahead" - especially if he is elected president. Speaking to several thousand people in Indianapolis ...

McCain again opposes big payouts for executives - Seattle Post Intelligencer
MIDDLEBURG HEIGHTS, Ohio -- Republican presidential nominee John McCain on Tuesday renewed his insistence that the Bush administration's $700 billion bailout plan for U.S. financial markets ensure that "taxpayers' dollars don't line the pockets of ...

Mixed theories on origins of the financial meltdown - The Australian
Groucho Marx defined mixed feelings as watching his mother-in-law drive his car over a cliff. Dubya is going through something of that experience, since he is about to leave office with the US economy in its biggest mess for decades and no one ...

Something in the water - Spokane Spokesman-Review
The news that parts of north Spokane are under a boil order due to drinking water contamination came to us late last night, and so we only had time to put together a brief for today's paper. But fret not, we're on the story in force today - one ...

Meet The $700 Billion Bailout Czar - OpEdNews.com
There is a new Czar in America""the man who will be running the $700 billion budget bailout/rescue program-- assistant secretary of the Treasury for International Affairs-- Neel Kashkari. Henry Paulson tapped the company he ran, Goldman Sachs, to ...

Today in the Sky • - USA Today Blogs
• The Senate is scheduled to vote on the $700 billion bailout/rescue/ransom/guarantee rejected by the House. But as noted below, the Senate package will include a tax cut the House already voted down. • Long list of economic reports to throw ...

A Resounding Bottom Up NO on the Bailout-- From the Entire Progressive ... - OpEdNews.com
It is urgent and essential that YOU contact your legislators in congress today to demand that they reject the bailout deal Henry Paulson has proposed. Let them know approval of it will be as bad as, maybe worse than their approval of the Iraq war and ...