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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
Crane home equity loans news:
Financial News
School for the blind starts visionary newsroom - Newark Star-Ledger
Ed Murray/The Star-Ledger Judy Ortman, interim executive director of the Concordia Learning Center, is interviewed by student Indigo Estevez from Newark for the school paper. There's a buzz in the newsroom of a New Jersey start-up newspaper, and not ...

Plan in works would help homeowners, lenders alike - San Diego Union-Tribune
The government has gotten a lot of practice this year coming up with halfway measures to edge us out of the Great American Mortgage Crisis. Every couple weeks, the Bush administration and the Federal Reserve concoct a new way to keep the financial ...

Buying or refinancing a house in the pricey Bay Area? - San Francisco Gate
Boo! Revelers celebrate the spookiest of holidays 11.01.08 Method for AP-Yahoo poll 11.01.08 Stocks rise to add to week's large gains 11.01.08 800 Longs employees to be let go in East Bay 11.01.08 Besides its core purpose of providing tax refunds ...

Maryann Haggerty and Elizabeth Razzi - Washington Post
Welcome to Real Estate Live, an online discussion of the Washington area housing market with Post Real Estate editor Maryann Haggerty and columnist Elizabeth Razzi. Maryann has been with The Post for 18 years and has served as real estate editor for ...

Harry Macklowe - New York Observer
1330 Avenue of the Americas. In 2007, after selling the Financial Times Building on Sixth Avenue to Harry Macklowe for a sizable $498 million, DekaBank receded from the New York real estate scene. Now the German bank is coming back, and not just to ...

Gov. Bobby Jindal's star rising after Republican losses - New Orleans Times-Picayune
The Associated Press Louisiana Gov. Bobby Jindal, left, meets with Former Speaker of the House and Republican political architect Newt Gingrich last month in Baton Rouge. Jindal's star stands to rise in the GOP as the party searches for new ...

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