Mortgage Term Definition

The Mortgage Glossary – Directory of Real Estate Terms – 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.

What is term mortgage? definition and meaning. – Definition of term mortgage: Short-term (usually for five years or less) standing mortgage in which (unlike in a term loan) the loan is not amortized over a fixed period but only interest is paid over the term of the loan.

Common definitions for mortgage terms – Here are definitions of several terms you will encounter as you confer with lenders: adjustable-rate mortgage (arm): A mortgage loan with an interest rate that periodically changes. Annual percentage.

Loan terminology glossary | UCOP – Loan terminology glossary. prepaid interest: Mortgage interest that is paid from the date of the funding to the end of that calendar month. Primary Residence: A dwelling where one actually lives and is considered as the legal residence for income tax purposes. Principal: The amount of debt, exclusive of interest,

Term Loan Definition – Investopedia – DEFINITION of ‘Term Loan’. The loan carries a fixed or variable interest rate, monthly or quarterly repayment schedule, and a set maturity date. The loan requires collateral and a rigorous approval process to reduce the risk of repayment. A term loan is appropriate for an established small business with sound financial statements.

Mortgage Terminology and Definitions – American Financing – Many mortgage firms must borrow funds on a short-term basis in order to originate loans which are to be sold later in the secondary mortgage market (or to investors). When the prime rate of interest is higher on short-term loans than on mortgage loans, the mortgage firm has an economic loss which is offset by charging a warehouse fee.

Mortgage Term vs. Amortization | Loan Payment Timeline – RateHub – Learn the difference between a mortgage term and an amortization period, and the effect they have on mortgage rates and mortgage payments.

Mortgage Glossary | Mortgage Term Definitions Explained – Mortgage Glossary – Mortgage Term Definitions These are terms commonly used in the mortgage industry. Click on any link and the page will spin to the definition.

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Equity Definition from Financial Times Lexicon – What a shareholder owns in a corporation, entitling him/her to part of that entity’s profits (in the form of dividends) and a measure of control (through shareholder voting rights).

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