A Glossary Of Mortgage Terms

Glossary of Terms Adjustable Rate Mortgage (ARM): A mortgage product with an interest rate that may change based on market factors; as a result, the payment can rise and fall.

Should you opt for a closed fixed mortgage? An open fixed? An open variable with a reduced term? Or just a good ol’ five-year fixed with an espresso shot? OK, I joke, but talk to an independent.

What is the best home loan option for you? – HomesMSP Beginners Guide to Refinancing Your Mortgage What You Should Know Before Refinancing. Getting a new mortgage to replace the original is called refinancing. Refinancing is done to allow a borrower to obtain a better interest term and rate.

“It’s a function that really makes sense for Fannie and Freddie to pool their resources in terms of that securitization infrastructure, rather than each of them investing separately,” said Mike.

Blue Ridge Bank Partners With ReverseVision on Reverse Mortgage Division Launch – Reverse Mortgage Daily Through a partnership with ReverseVision, Blue Ridge Bank announced this week the launch of its reverse mortgage division. Blue Ridge has extensive experience operating in the forward mortgage space, having closed more than $25 billion dollars in forward residential home loans.

Glossary of Mortgage Terms 1003 form commonly used mortgage loan application developed by Fannie Mae. Sometimes called the Uniform Residential Loan Application. Acceptance a verbal or written acceptance of an offer to buy a home, made from the seller to the buyer. Acre a land measurement commonly used in U.S. property negotiations.

Use this glossary of mortgage terms to better understand the overall mortgage process as well as any specific mortgage terms that may be unfamiliar to you. A Abstract of title [skip to next word] A written history of all the transactions related to the title for a specific tract of land.

WASHINGTON – U.S. long-term mortgage rates fell slightly this week, marking a third straight week of declines as a continued inducement to purchasers in the spring homebuying season. Mortgage buyer.

Declining mortgage rates and moderate home prices are likely to bring. as there are plenty of reasons to be optimistic about the sector over the short and long term. However, picking winning stocks.

Glossary of Common Mortgage Terms "Bait-and-switch" schemes: The lender may promise one type of loan or interest rate but, without good reason, gives you a different one. Sometimes a higher (and unaffordable) interest rate doesn’t kick in until months after you have begun to pay on your loan..

WASHINGTON – After months of stalemate, the state attorneys general have proposed new terms to the top five mortgage servicers that drop some controversial provisions of their first attempt at a.

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Glossary of Mortgage Terms. A. adjustable-rate mortgage (ARM) Is a mortgage in which the interest rate is adjusted periodically based on a preselected index. Also sometimes known as the renegotiable rate mortgage, the variable rate mortgage or the Canadian rollover mortgage.