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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
Forsyth mortgage quotes news:
Financial News
The Angry Left’s dream stops here - Atlanta Journal Constitution
Looks like Georgia’s the key now to whether Democrats have a full, unchecked run in Washington. Al Franken’s finding votes in Minnesota. Democrats have gained six already in the Senate, pushing them to 57. Saxby Chambliss is just under 50, thanks ...

Find the voter fraud - Atlanta Journal Constitution
I don’t. It’s another of those scare-out-the-vote campaigns that are the hallmark of Democratic political seasons. Just as soon as the Georgia runoffs are over, the next order of business should be to conduct a large-scale audit of voting to ...

Nick Robinson's Newslog - bbc
WASHINGTON: Labour say he's being irresponsible. The Tories that he's showing the courage to be prudent. Either way George Osborne must have known he was risking huge controversy by warning of a possible "collapse of sterling" whilst the prime ...

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