Finance Mortgage
Mortgage rates is affected by supply and demand. Meaning, as the demand of mortgage loans increases, the interest rates increases too. Inflation can also affect the rate ...
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This is the process of refinancing or renewal of your existing loan with new payment options or mortgage terms right for your budget. It could be with the same lender or ...
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It is a type of mortgage loans that you get from cooperatives, instead of banks. Coop is system of ownership wherein the residents of a particular housing building like c...
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A mortgage pre-approval happens when a borrower is guaranteed by a lender with a certain amount he can loan. The borrower gets a pre-approval letter which he can show whe...
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This is the fee a borrower pays at the onset of a mortgage. Usually, lenders give discounted interest rate or bonus rate especially for first time buyers.
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This is the fee you pay your lender when you either pay off a mortgage early or switch to a new mortgage with a new lender. It covers staff, legal, and admin costs.
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Mortgage modification is changing terms of the loan, outside the original agreement in the contract: including change in interest rate, principal, late fees or penalties;...
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It is a process by which a financially distressed borrower sells his home for less money than he owes on it to avoid foreclosure (which involves higher fees for the lende...
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A long term mortgage is extended beyond the life of a typical loan which is 15-30years long. It can last for 40years or more.
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It is a type of financing that creates lien on two or more real estate properties. Instead of taking a mortgage on each property, the buyer can take out one mortgage on t...
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Is a kind of loan for properties that can accommodate more than four families like apartment buildings and complexes. In most cases, the financing is almost the same as w...
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