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A mortgage is a loan with your real estate as security for the loan. If you fail to make regular repayments of the loan the lender can take possession of the real estate and sell it to repay the loan.
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What is meant by 'pre-issuance' in regards to mortgage insurance?
What is the purpose and and benefits of per mortgage insurance
Are affiliated with a group who is sending your mortgage documents to the world court system and they will dissolve your mortgage is this possible?
I meant to say our mortgage. Sorry for the mess up
What is meant by balloon mortgage in Anchorage, AK?
Regardless of location a balloon mortgage is when you have a large final payment at the end of the loan period.
What is meant by the terminology fixed mortgage rates?
A fixed mortgage rate is an interest rate that will not change for the term of the mortgage. This is in contrast to a variable mortgage rate which changes frequently based on the prime rate or other benchmark rate.
Where can one find a house mortgage calculator?
The websites of most major financial institutions include detailed mortgage calculators. These are meant to help you make informed decisions when selecting a mortgage.
What exactly meant by mortgage in the banking terminology?
The mortgage is the document that says the loan is secured by the property and if not paid the bank has the right to take the property.
What is meant with mortgage affordability calculator in finances?
A mortgage affordability calculator is just another name for a mortgage calculator that can help you estimate your monthly payments and the amount of interest paid in a certain month.
What is meant by the term equitable mortgage?
The term equitable mortgage means that two parties have made an agreement (whether verbal or written) that the loaner will lend money to the owner of a mortgage using the mortgage as collateral and in the event that the borrower does not return the money he loaned the mortgage is then in the possession of the lender.
What does it meant to be a mortgage underwriter?
To be a mortgage underwriter means that one determines if the risk of lending money to an individual is acceptable. Today, mortgage underwriter and banks use computer models to help determine this risk.
What is meant when one says that there is no proof of income mortgages?
No proof of income mortgages means a Self-Certified mortgage. A Self-Certified mortgage means that you do not want to tell the mortgage underwriter your exact earnings.
What is meant by a 'jumbo' mortgage loan?
A jumbo mortgage loan is a residential mortgage loan which has an original principal balance which exceeds the maximum amount permitted by the agencies typical guidelines. You would need to meet your bank manager for further information.
What is meant by contractor mortgages?
Mortgages applicable to those type of people (Contractors) are termed as Contractor Mortgages. Guidelines and documentation required for availing a contractor mortgage is different than that of a typical mortgage. The only entity that can mortgage any property is the legal owner so the contractor must have title in order to grant a mortgage on the property.
