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Sign up for text alerts - Pocono RecordThe gift-giving holidays are quickly approaching, and the thought of spending a lot of money on gifts this year is enough to make anyone wish for a winning lottery ticket. The economy might be in shambles, but you don't have to re-mortgage the house ...
National Penn in line for bailout money - Allentown Morning CallSome of that government economic bailout money could soon be coming to a bank near you. National Penn Bancshares, which in February became the second-largest bank in the Lehigh Valley with its acquisition of KNBT in Bethlehem, is in line to receive ...
Today's Mortgage Terms starting with L
Lender: The bank, mortgage company or mortgage broker providing the loan.
Loan Application: A statement of personal and financial information needed to apply for a loan.
Loan Application Fee: A fee applied by a lender to cover the initial costs of putting through a loan application. The fee could include the cost of getting a property appraisal, a credit report and a lock-in fee and other closing costs incurred to complete the transaction.
Loan Origination Fee: Fee charged by a lender for the administrative costs of processing a loan.
Loan to Value Ratio (LTV): The balance of the mortgage outstanding as a percentage of the home's price.
Lock or Lock In: A lender's guarantee of an interest rate for a specific period of time. The time period is usually between the loan application approval and loan closing. The borrower wants the lock to stay in effect until closing.
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