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Today's Mortgage Terms starting with M
Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
View all Terms |
Beaver mortgage rates news:
Home calendar - Detroit Free PressFirst-time home buyers: Learn how to qualify for a government-sponsored tax credit, the home buying process and new mortgage programs, 7-8 p.m. Tuesday at Re/Max in the Hills, 36700 Woodward, Ste. 100 in Bloomfield Hills. Free. 248-646-8583. First ...
Conservative Evangelical Vote Still the Republican Party's to Lose - ABC NewsDennis Barbee cares about low taxes. He also wants a strong economy and solid national security. Above all else, the registered nurse from Spring Hill, Tenn., is basing his vote this November on moral issues. "Making sure human beings have a right to ...
1. If it was Harper fumbling in French, the Libs would do the same. - Globe and MailPANIC! At The Ice Floe from Ottawa, Canada writes: He didn't understand the question at first and then it becomes obvious that he didn't have an answer. So, either the guy couldn't answer the question or he's incapable of comprehending the English ...
Editor's Mailbag (Oct. 7) - Albany Democrat-HeraldWhen I loan money to a friend, I expect it to be paid back. When a bank makes a loan to someone to purchase a house or car, it needs repayment of the loan if the lender is to remain in business. Liberal lawmakers in government since 1992 have ...
When I was a kid, we didn't have insurance, we had something better ... - Lodi News-SentinelWhen I was a kid, nobody ever got hurt really badly and I just now figured out why: None of us had insurance. One day I put a rusty nail right through my right foot, the nail was on a board and since I couldn't run with a board attached to my foot, I ...
On the American Porch - Huffingtonpost.comGround Zero is the term usually used to locate the epicenter of an explosion or earthquake, as in the World Trade Center and its leveling. Can the term be used to describe the place where an implosion occurs, where soil meets interior combustion ...
A New Bretton Woods? Where is Keynes? Where is Dexter White? - bbcThe plan is unleashed. It's a growing possibility that everybody else will follow the UK and the emerging central technique for stemming panic is established: - Government becomes permanent supplier of medium term credit to banks - Central Bank ...
The left is in a quandary over Palin - Atlanta Journal ConstitutionThat’s the quandary of the left, of the campaign Democrats and the bloggers and other commentators who camp with them. She sailed through the first two tests — her introduction to the nation as John McCain’s running mate and her acceptance ...
Hillary supporters in PA going to Obama? - Beaver County TimesBarb Lebda of Economy supported Hillary Clinton and is not happy about her party’s presidential nominee, Barack Obama. She’s the type of unhappy voter that polls show has boosted the numbers of Republican nominee, John McCain. Just not in ...
Street Scenes from a Lehman Bailout: Executives Gather at NY Fed - Wall Street JournalAaron Lucchetti, David Enrich and Susanne Craig send these dispatches from the New York sites of Lehman’s last hours. At the New York Fed’s fortress-like stone and iron headquarters in lower Manhattan, Wall Street executives rolled up their ...
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