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Today's Mortgage Terms starting with L

Lender:

The bank, mortgage company or mortgage broker providing the loan.

Loan Application:

A statement of personal and financial information needed to apply for a loan.

Loan Application Fee:

A fee applied by a lender to cover the initial costs of putting through a loan application. The fee could include the cost of getting a property appraisal, a credit report and a lock-in fee and other closing costs incurred to complete the transaction.

Loan Origination Fee:

Fee charged by a lender for the administrative costs of processing a loan.

Loan to Value Ratio (LTV):

The balance of the mortgage outstanding as a percentage of the home's price.

Lock or Lock In:

A lender's guarantee of an interest rate for a specific period of time. The time period is usually between the loan application approval and loan closing. The borrower wants the lock to stay in effect until closing.

View all Terms
Delaware mortgage rates news:
Financial News
McCain pushes $300 billion mortgage plan - Washington Post
BETHLEHEM, Pennsylvania (Reuters) - White House hopeful John McCain pitched a $300 billion plan to help struggling homeowners on Wednesday, as he sought to dent a lead Barack Obama has built over his handling of economic issues. The morning after a ...

National business in brief: Mortgage rates decline - Kansas City Star
Rates on 30-year mortgages fell below 6 percent this week, recording the first decline in three weeks. Freddie Mac , the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 5.94 percent this week, down from 6.10 percent ...

Monarch Financial More Than Doubles 3rd Quarter Net Income and Reports ... - MSN MoneyCentral
CHESAPEAKE, Va. , Oct. 15 /PRNewswire-FirstCall/ -- Monarch Financial Holdings, Inc. MNRK , the bank holding company for Monarch Bank, reported greatly improved third quarter net income and record year to date net income. Net income was $772,333 for ...

Help on loans, budgets, investments, more - MSNBC
Q: Should I pull out my money from my employer's 401(k) retirement account now? I want to retire in four years. I am over 59, and will put the money in a money market paying 5.53 percent at my credit union. -Phyllis, California A: If you don't need ...

McCain pushes multi billion pound mortgage plan - International Herald Tribune
White House hopeful John McCain pitched a $300 billion (173.5 billion pound) plan to help struggling homeowners on Wednesday, as he sought to dent a lead Barack Obama has built over his handling of economic issues. The morning after a sometimes tense ...

Jerry Jackson: Arkansas home owners and the mortgage crisis - Cleburne County Sun-Times
Unless you are in a cave somewhere or you have absolutely no interest in national and world events, you are aware of the financial crisis that is gripping the United States and the entire world So much has been written about problems on a national ...

U.S. running out of options in crisis - Delaware Online
The commitment of $700 billion didn't impress markets here and around the world. Neither did fresh interest rate cuts. Stocks plunged yet again Thursday. The government still has some unused options -- like buying up foreclosed properties and making ...

IMF forecasts slow global economy - Delaware Online
WASHINGTON -- The world economy will slow sharply this year and next, with the United States likely sliding into a recession, reflecting mounting damage from the most dangerous financial jolt in more than a half-century. The International Monetary ...

Credit crisis' next victim: bankruptcies - Dallas Morning News
Companies seeking bankruptcy protection have a new hurdle, thanks to the credit crunch: finding money to survive the process. The frozen credit markets have choked lending to struggling companies that need loans just to make it through Chapter 11 ...

Obama and McCain applaud lending rate cut - EurActiv.com
NASHVILLE, Tennessee (Reuters) - Republican John McCain and Democrat Barack Obama welcomed a global cut in lending rates on Wednesday, keeping the focus of their bruising White House race on remedies for the ailing economy. The morning after a ...

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sources: informars.com, erate.com, Freddie Mac
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