Jonestown Mortgage Rates and Information Online from competing Lenders
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So grateful Obama will take care of us - Rocky Mountain NewsIsn't it great? With the election of Barack Obama, I won't have to worry about paying my mortgage, health insurance, gas for my car or college tuition! Obama will take care of us! But to do everything he promised, he forgot to say that he needs to ...
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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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