Mortgage Terms Glossary, Mortgage & Property Glossary. – Use our Mortgage Terms Glossary to help understand every step of the process. Our glossary of mortgage loan terminology defines a variety of terms used by loan officers and real estate professionals. Add our Mortgage Terms Glossary to your Favorites for quick look-ups throughout your mortgage application process. #
Glossary of Mortgage Terms – NFDM – Glossary of Mortgage terms adjustable rate mortgage (ARM): A mortgage in which the interest rate is adjusted periodically according to a pre-selected index. Annual Percentage Rate (APR): A term used in the Truth-in-Lending Act to represent the percentage relationship of the total finance charge to the amount of the loan.
Bullet Loan Definition – In a full lump sum bullet loan, interest will accrue according to the loan terms, usually monthly or annually, and the borrower will be required to pay the total balance in the form of a large lump.
mortgage apr calculator – Money-zine.com – mortgage apr calculator details Last Updated: Sunday, 18 November 2018 You can use this mortgage APR calculator to estimate the effective annual interest rate on a loan. The calculator uses the quoted annual interest rate, in combination with the fees charged, to figure out an effective monthly payment on the loan.
Renegotiated Loan Definition – A renegotiated loan is a loan, such as a home mortgage, that has been modified by the lender. all parties agree to modify the loan’s original terms. Modifications can include the interest rate or.
Mortgage loan – Wikipedia – term: mortgage loans generally have a maximum term, that is, the number of years after which an amortizing loan will be repaid. Some mortgage loans may have no amortization, or require full repayment of any remaining balance at a certain date, or even negative amortization.
FHA Mortgage Terms Glossary – FHA Home Loans – Mortgage Loan-A loan which utilizes real estate as security or collateral to provide for repayment should you default on the terms of your loan. The mortgage or Deed of Trust is your agreement to pledge your home or other real estate as security. Mortgagee-The lender in a mortgage loan transaction.
Loan terminology glossary | UCOP – Loan terminology glossary . The terms and definitions that follow are meant to give simple, informal meaning for words and phrases you may see on our Web site that may not be familiar to you.. The ratio of the principal balance of a mortgage loan to the value of the securing property, as.
Construction Loan – The builder or home buyer takes out a construction loan to cover the costs of the project before obtaining long-term funding. Because they are considered fairly risky, construction loans usually have.