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News about Mortgages:
Bits and Pieces for Sept. 6 - Antigo Daily JournalBits and Pieces for Sept. 6 Sept. 6, 2008 News flash: Marijuana has been one of the hot topics of the week in these parts. A man living in one of the most tony neighborhoods in Langlade County was found with plants at his home and more than a pound ...
Kagen, Gard vie in rematch in a week - Antigo Daily JournalThe race for the Eighth Congressional District is expected to be close — pitting an incumbent millionaire doctor with just one term under his belt against a career state lawmaker — and is a replay of two years ago. The most competitive race Nov ...

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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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