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News about Mortgages:
Stephens sees opportunities - Arkansas TimesArkansas Business has a report on a memo Warren Stephens circulated in the Stephens financial empire today. They are cool in the current financial meltdown, thanks to modest leveraging of assets and heavy investment in conservative securities. He ...
The Courier - Courier NewsChief executives from three area banks provided promising insight Thursday into the economic crisis plaguing the nation, saying community banks are weathering the financial storm by sticking to their hometown roots and protecting depositors’ money ...
GOP takes out loan to help Senate candidates - Added 1 week ago - Town Hall!!-- pobj:NCGOL101-1026081028 -->The Republican National Committee tapped a $5 million line of credit Tuesday as part of a renewed effort to help GOP senators facing re-election difficulties, the party's chairman said... Group releases anti-Obama DVD ...
ELECTION 2008: Three seats in state House up for grabs - Bowling Green Daily News1. Posted next to one area candidate’s campaign signs are: “Drill here, Drill now, Pay less.” But what realistically can a state lawmaker do to help solve Kentucky’s and the nation’s energy crisis? The energy crisis is everyone’s issue ...
Today's Mortgage Terms starting with P
Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
Principal: It is the amount of money borrowed or owed, excluding interest.
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