2009 January - Refinance Loans Insurrance Bargains

Archive for January, 2009

ARM-Adjustable Rate Mortgage loans mortgage terminology definition

ARM-Adjustable Rate Mortgage: A mortgage in which you have a specified amount of time (usually 2 or 3 years) at the beginning of the loan when the interest rate is fixed. After that time period is over, the interest rate fluctuates with the current market

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Be the first to comment - What do you think? Posted by admin - January 11, 2009 at 11:21 am

Categories: Mortgage Glossary Tags: loan, mortgage

According to Value loans mortgage terminology definition

According to Value: Refers to the value of your home and property upon which your property taxes are based on. Also called “Ad Valorem.”

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Be the first to comment - What do you think? Posted by admin - January 10, 2009 at 10:21 am

Categories: Mortgage Glossary Tags: loan, mortgage, tax, taxes

Acreage loans mortgage terminology definition

Acreage: The amount of land that is being purchased as an empty lot or with a home pre-existing on the property. One acre is equal to 43,560 square feet.

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Be the first to comment - What do you think? Posted by admin - January 9, 2009 at 9:21 am

Categories: Mortgage Glossary Tags: loan, mortgage

ACE-Automated Certificate of Eligibility loans mortgage terminology definition

ACE-Automated Certificate of Eligibility: This system is used by VA-approved lenders in order to help Veterans get the Certificate of Eligibility they need to take part in the VA Home Loan Guarantee Program.

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Be the first to comment - What do you think? Posted by admin - January 8, 2009 at 8:21 am

Categories: Mortgage Glossary Tags: lender, loan, mortgage

Acceptance loans mortgage terminology definition

Acceptance: After you make an offer on a home and the seller accepts, a purchase agreement stating the purchase price and other terms of sale is drawn up and earnest money is put on the home.

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Be the first to comment - What do you think? Posted by admin - January 7, 2009 at 7:21 am

Categories: Mortgage Glossary Tags: loan, mortgage

Acceleration Clause loans mortgage terminology definition

Acceleration Clause: This is written into mortgage contracts in case you miss a payment and go into default with your loan. If this happens, the lender can demand full payment of the balance due on your mortgage.

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Be the first to comment - What do you think? Posted by admin - January 6, 2009 at 6:21 am

Categories: Mortgage Glossary Tags: lender, loan, mortgage, payment