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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
Ashland home equity loans news:
Financial News
People's Bank Reports Earnings - CNBC
MEDFORD, Ore., Oct 23, 2008 (BUSINESS WIRE) -- People's Bank of Commerce (OTCBB:PBCO) reported earnings through September 30, 2008, were $73,000, or $0.08 per share, compared to $408,000, or $0.50 per share, through the third quarter of 2007. The ...

Financial worries still strong in the area - Daily Independent
ASHLAND — With grim financial news practically everywhere in recent days, local residents are seeking reassurances about their investments and savings, according to local bankers and other financial professionals. Ashland Credit Union President ...

Foreclosures leave residents at a loss - Medford Mail Tribune
Kathleen Jones has an affinity for animals, referring to herself as "Mother Goose" on her personalized license plates. The 61-year-old Applegate resident is surrounded by geese, llamas, sheep and other livestock and pets on the 45-acre farm she's ...

Area developers seek aid on affordable homes - Record Searchlight
In another sign of economic hard times, two private, for-profit developers are seeking Redding Redevelopment Agency help to build affordable housing. The agency board today will consider $1.67 million in building subsidies and loans. This money would ...

INDUSTRY NEWS & PEOPLE January 2008 - Business Travel Executive
The Association of Corporate Travel Executives (ACTE) has added two new members to its international team: Ronald Kosmahl, director of global education and research, and Kathleen Brannigan, senior director of global communications. Prior to joining ...

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