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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
Lehigh mortgage rates news:
Financial News
Countrywide Financial Corp. - Chicago Tribune
You probably won't hear John P. Jones III whining about the high price of gas or heating oil. The Air Products chief executive officer who retired last year raked in a pay package worth more than $13 million in 2007, making him the first Lehigh ...

MARHedge San Francisco - 13th Annual Institutional Investment ... - MAR
University of California at Los Angeles After serving as assistant and associate professor at Harvard University, Edward E. Leamer joined the University of California at Los Angeles in 1975 as Professor of Economics and served as Chair from 1983 to ...

School's pursuit of profit leaves students behind - Morning Call
Telemarketing -- that's how enrollment at Lehigh Valley College often begins. Recruiters must make 125 calls and schedule five appointments a day, and enroll 10 applicants a month. Top performers get vacations to the Bahamas. Those who fail to sign ...

Cape-Fort Myers foreclosures rate highest in the nation - Naples Daily News
The Cape Coral-Fort Myers area had the highest rate of foreclosures in the nation in January, a mortgage research firm said. Charlie Green, the Lee County Clerk of Courts isn’t surprised by the new distinction. Green is having to request an ...

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