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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
Menard home equity loans news:
Financial News
Ottawa bows to banks to keep credit flowing - Globe and Mail
Silver Standard (Robert Menard Rules:)) from Canada writes: Well here we go guys, get your money out of paper. We are going to go down with the USA. We really don't need to do this, its criminal what they are going to do with or savings. All the ...

Ramco-Gershenson Properties Trust Q3 2008 Earnings Call Transcript - Seekingalpha.com
Greetings and welcome to the Ramco-Gershenson Property Trust third quarter 2008 earnings conference call. (Operator Instructions). It is now my pleasure to introduce your host, Dawn Hendershot, Director of Investor Relations for Ramco-Gershenson ...

Bicyclist hit on the south side - Milwaukee Journal Sentinel
Oct. 27, 2008 | Milwaukee police and paramedics are on the scene of an apparent hit-and-run involving a bicyclist on the city's south side. Fire officials said they responded to the 1500 block of W. Becher St. at 11:31 a.m. They indicated that a ...

Homestead, Muskego advance in state soccer tourney - Milwaukee Journal Sentinel
For at least two years, you'll have to run state government - and it's in a deep financial hole. Tuesday's victories by Democrats mean that Democratic Gov. Jim Doyle will have 70 partners - the 18 Democrats who will run the Senate and the 52 Assembly ...

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