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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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How about a photo of Coeur d'Alene's newest Sweetheart to end the week? Miss Teen Idaho, Estrella Atkinson , a senior at Lake City High School, along rain soaked Sherman Avenue, Friday afternoon during the Lake City High School Homecoming Parade ...

Wild Card/Vacation Day 11 of 12 - Spokane Spokesman-Review
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