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Mortgage constant, also called "mortgage capitalization rate", is the capitalization rate for debt. It is usually computed monthly by dividing the monthly payment by the mortgage principal. An annualized mortgage constant can be found by multiplying the monthly constant by 12 or by dividing the annual debt service by the mortgage principal. [1]
Balloon payment mortgage - A mortgage most commonly used in commercial real estate. The Balloon payment mortgage does not fully amortize over the term of the note, which leaves a balance due at maturity, known as a "balloon payment." Interest only mortgage - A type of mortgage where the borrower pays only the accruing interest on the principal ...
mortgage document More often than not, you're dealing with terms and conditions on various mortgage types that may be so difficult to understand that you just want to pull out your hair.
Key takeaways. A mortgage note represents a home loan for a given borrower. The note is a security instrument that allows the loan to be grouped with other mortgages after closing and sold to ...
Here are 15 real estate terms you need to know. Real Estate Agent Professional who represents the seller (listing agent) or buyer (buyer’s agent) in a real estate transaction.
Examples are banks, mortgage companies, and loss mitigation companies. [3] [4] [5] The BPO is performed by a real estate professional who is acting on behalf of the financial institution. [1] Such a professional could be a real estate agent, a real estate broker, an appraiser, or other qualified person.
A mortgage is a long-term loan used to buy a house. Mortgages are offered with a variety of loan terms — the length of time to repay the loan — usually between eight and 30 years.
Endowment mortgage – an interest-only mortgage where the capital is planned to be repaid from the maturity value of one or more endowment policies at the end of the mortgage term. Investment backed mortgage – an interest-only mortgage where the capital is planned to be repaid from the proceeds of an Individual Savings Account (ISA) or other ...