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College fund program begun - Knoxville News SentinelKnox County high school graduates who plan to attend community college will get a financial head start under a new program unveiled Tuesday. KnoxAchieves, a joint effort between Knox County and Knoxville Mayors Mike Ragsdale and Bill Haslam and ...
Worries about housing project - Knoxville News SentinelThe city of Knoxville has been expecting $4.5 million from the federal government, largely to improve blighted and abandoned housing, but a desire for more public input and a late change by the state stand in the way of finalizing a plan for exactly ...
Today's Mortgage Terms starting with D
Default: Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.
Discounted Loan: When the note rate on a loan is lower than the market rate, it is a discounted loan.
Discount Point: A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.
Down Payment: The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.
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