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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 |
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The latest
Mortgage News:
Number of jobless Rhode Islanders continues to grow - Providence JournalRhode Island’s recession continues to deepen, as payrolls shrink and the ranks of residents unable to find work grows. The state unemployment rate last month climbed to 7.5 percent, two percentage points above the national average, and payroll jobs ...
For Con$umers - Providence JournalFares for Amtrak’s Northeast Regional service, which stops in Providence, Kingston and Westerly, rose 5 percent this week. That will add a few dollars to fares between Rhode Island and cities such as New York and Washington. Fares for the Acela ...
ARAB BUSINESS SEARCH - Nashra USAType [All Categories] Accounting Advertising Agency Air Cargo And Package Air Conditioning Air Lines Alarm Systems Appraisals Arab Airlines Attorneys Automobiles Bakeries Banks Beauty Salons Book Stores Bridal Broadcasting / Video / Audio Butchers ...
Uncertain times for Synovus - Ledger-Enquirer– All United States – Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota ...
Bush: Congress could take steps to ease gas prices - Miami HeraldCRAWFORD, Texas -- Responding to Americans' anger over fuel prices and the housing bust, President Bush is stepping up pressure on Congress to open up offshore oil exploration and work to restore confidence in the housing finance industry. "This is a ...
Another piece of the investment puzzle - NewsdayYou should invest for the long run, and don't worry about times -- like now -- when the markets are shaky. As you move into your 40s and 50s, you should gradually shift part of your money out of stocks and into bonds. You should take only as much ...
McCain talks with auto workers about economic woes - Miami HeraldRepublican presidential candidate Sen. John McCain, R-Ariz. addresses a town hall meeting at the General Motors Design Center in Warren, Mich., Friday, July 18, 2008. WARREN, Mich. -- John McCain promised auto workers at General Motors to help make ...
Council helps keep Senior Center on track - Kent County TimesWEST WARWICK — When the West Warwick Senior Center ran into financial difficulty and prepared to halt its building project, said Manny Murray, the board didn’t expect the town council to come riding to it’s rescue, but that’s just what the ...
Home Loan Investment shifts focus, trims staff - Providence Business NewsWARWICK – Rhode Island-based Home Loan Investment Bank recently laid off about 30 employees as the company shifts its focus from mortgages to commercial loans in the wake of major disruptions in the home loan industry. Brian Murphy, CEO of the ...
RBS shares bounce back as investor fears ease - Providence Business NewsShares in Royal Bank of Scotland Group plc – Britain’s second-largest bank and the parent of Providence-based Citizens Financial Group Inc. – climbed for a second day in London trading as investor fears of U.S. mortgage-debt exposure eased. At ...
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