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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.
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Hale home equity loans news:
House rents fall as unsold properties flood market - Times OnlineRents fell for the first time in five years between July and October as home-movers flooded the rental market with properties that they could not sell. According to a new survey, 12 per cent more lettings agents said that rents had fallen rather than ...
Loading... Click here for news menu - Herald55.Her expenditure from October 2006 to December 2007 totalled £3,715,683 made up as to £2,996,159 personal expenditure, £682,425 business expenditure, and £37,099 cash expenditure. Within the figure for personal expenditure is the payment of her ...
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