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Loan estimate
Loan estimate A Loan Estimate is a three-page form that you receive after applying for a mortgage.
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Lifetime adjustment cap
Lifetime adjustment cap A lifetime adjustment cap is typically used with adjustable rate mortgages (ARMs). This cap determines how much the interest rate can increase […]
313 total views, 1 today
Lenders title insurance
Lenders title insurance Lender’s title insurance protects your lender against problems with the title to your property-such as someone with a legal claim against the […]
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Jumbo loan
Jumbo loan Each year Fannie Mae, Freddie Mac, and their regulator, the Federal Housing Finance Agency (FHFA), set a maximum amount for loans that they […]
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Interest rate cap
Interest rate cap An interest rate cap, sometimes referred to as an annual cap, is the maximum interest rate increase that can occur annually for […]
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Interest rate
Interest rate An interest rate on a mortgage loan is the cost you will pay each year to borrow the money, expressed as a percentage […]
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Interest-only loan
Interest-only loan An interest-only mortgage is a loan with scheduled payments that require you to pay only the interest for a specified amount of time.
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Initial escrow deposit
Initial escrow deposit An initial escrow deposit is the amount that you will pay at closing to start your escrow account, if required by your lender.
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Initial adjustment cap
Initial adjustment cap An initial adjustment cap is typically associated with adjustable rate mortgages (ARMs). This cap determines how much the interest rate can increase […]
311 total views, 0 today