Mortgage Definitions and Factoids
Home Mortgage Definitions 4
Co-Borrower:
A party who signs the mortgage note along with the primary borrower, and who also shares title to the subject real estate.
Collateral:
Property pledged as security for a debt. For example, real estate that secures a mortgage. Collateral can be repossessed if the loan is not repaid.
Combined Loan To Value (CLTV):
The mathematical relationship between the total of all loan amounts (first mortgage plus subordinate liens) and the value of the subject property.
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The Difference Between A Fixed Rate Mortgage and A Variable Rate Mortgage
The Difference Between A Fixed Rate Mortgage and A Variable Rate Mortgage
With the various options in the industry nowadays, this is probably the most confusing time for anyone who...
Financing Choices for Home Mortgage
Financing Choices for Home Mortgage
There are several ways to finance your home. In order to choose the most appropriate home mortgage for your personality and lifestyle, assess the different type of financing for home mortgage:
1)...
How to Apply For a Balloon Mortgage
How to Apply For a Balloon Mortgage
Balloon mortgages are short-term loans that act similarly to a fixed-rate mortgage. The first mortgage under it usually has a term of just five to seven years. A...
An Introduction to Home Loan Interest Rates
An Introduction to Home Loan Interest Rates
Getting a home loan is one of the very important aspects of modern living, and one of the most important parts of this endeavor are interest rates. However,...