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AEX Offers Business Loan Officer Training and Commercial Financing ... - PR.comAEX Commercial Financing Group is offering a Mortgage Broker Training Program combined with a Business Loan Referral Fee Program. Leesburg, OH, January 10, 2008 --( PR.com )-- AEX Commercial Financing Group (AEX) has developed a highly-advanced and ...
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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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