About Editor
Bi-weekly payment
Bi-weekly payment In a bi-weekly payment plan, the mortgage servicer is collecting half of your monthly payment every two weeks, resulting in 26 payments over the course […]
355 total views, 0 today
Balloon loan
Balloon loan For mortgages, a balloon loan means that the loan has a larger-than-usual, one-time payment, typically at the end of the loan term. This […]
322 total views, 0 today
Automatic payment
Automatic payment Automatic payments allow you to set up recurring mortgage payments through your bank. Automatic payments can be a convenient way to make sure […]
318 total views, 0 today
Appraisal fee
Appraisal fee An appraisal fee is the cost of a home appraisal of a house you plan to buy or already own. Home appraisals provide […]
352 total views, 0 today
Annual Percentage Rate (APR)
Annual Percentage Rate (APR) An annual percentage rate (APR) is a broader measure of the cost of borrowing money than the interest rate. The APR […]
357 total views, 1 today
Annual income
Annual income Annual income is a factor in a mortgage loan application and generally refers to your total earned, pre-tax income over a year. Annual […]
310 total views, 0 today
Amount financed
Amount financed It means the amount of money you are borrowing from the lender, minus most of the upfront fees the lender is charging you.
327 total views, 1 today
Amortization
Amortization Amortization means paying off a loan with regular payments over time, so that the amount you owe decreases with each payment. Most home loans […]
324 total views, 0 today
Adjustable Rate Mortgage (ARM)
Adjustable Rate Mortgage (ARM) An adjustable rate mortgage (ARM) is a type of loan for which the interest rate can change, usually in relation to […]
318 total views, 0 today
Ability-to-repay rule
Ability-to-repay rule The ability-to-repay rule is the reasonable and good faith determination most mortgage lenders are required to make that you are able to pay back […]
308 total views, 0 today