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News about Mortgages:
Green Bankshares Receives Preliminary Approval to Participate in the U ... - MSN MoneyCentralGreen Bankshares, Inc. GRNB , the holding company for GreenBank, today announced that it has received preliminary approval to participate in the U.S. Treasury Department's Capital Purchase Program, part of the government's effort to restore ...
Sen. Alexander Tours Greeneville, Explains Economic Rescue Bill - Greeneville SunU.S. Sen. Lamar Alexander, R-Tenn., who is running for re-election in the Nov. 4 general election, visited Greeneville on Tuesday, stopping at Republican Headquarters on Main Street. Alexander was introduced by Greene County GOP Chairman Robert ...
'Halloween Happenings' Will Be Held This Friday - Greeneville Sun"Halloween Happenings" will be held this Friday, Oct. 31, from 4 to 6 p.m. in downtown Greeneville. Main Street: Greeneville, the sponsor, said all local children and their parents are invited to the free event. Merchants, professional offices, banks ...
Green Bankshares Receives Preliminary Approval to Participate in - MSN MoneyCentralGreen Bankshares, Inc. GRNB , the holding company for GreenBank, today announced that it has received preliminary approval to participate in the U.S. Treasury Department's Capital Purchase Program, part of the government's effort to restore ...
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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