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  2. What is a mortgage? A definitive guide for aspiring homeowners

    www.aol.com/finance/mortgage-definitive-guide...

    Mortgage underwriting is the process by which a bank or mortgage lender assesses the risk of lending to a particular individual. The underwriting process requires an application and takes into ...

  3. Mortgage Jargon in Simple Terms - AOL

    www.aol.com/news/2010-09-14-guide-to-mortgage...

    But not understanding the terms of the loan could mean a very costly mistake on one of the most expensive purchases you'll ever make. ... you should learn some basic mortgage terminology to keep ...

  4. Glossary of US mortgage terminology - Wikipedia

    en.wikipedia.org/wiki/Glossary_of_US_mortgage...

    Terms pertaining to American mortgages include: Main two types Origination and Re-Financing Origination: starting from the scrap, Ex, A person wants to buy a home and goes to the bank for the same will get loan of 80% of their LTV. Re-finance: defaulted borrower can apply for the same refinancing procedure to re modify the loan term, interest rate.

  5. Mortgage - Wikipedia

    en.wikipedia.org/wiki/Mortgage

    A mortgage loan or simply mortgage (/ ˈ m ɔːr ɡ ɪ dʒ /), in civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged.

  6. Discount points - Wikipedia

    en.wikipedia.org/wiki/Discount_Points

    Discount points, also called mortgage points or simply points, are a form of pre-paid interest available in the United States when arranging a mortgage. One point equals one percent of the loan amount. By charging a borrower points, a lender effectively increases the yield on the loan above the amount of the stated interest rate. Borrowers can ...

  7. Open-ended mortgages: What are they and how do they work? - AOL

    www.aol.com/finance/open-ended-mortgages...

    Key takeaways. An open-end mortgage provides financing to help you buy a home now and renovate it in the future. Open-end mortgages work similar to a home equity line of credit, but you can only ...

  8. Fixed-rate mortgage - Wikipedia

    en.wikipedia.org/wiki/Fixed-rate_mortgage

    The fixed-rate mortgage was the first mortgage loan that was fully amortized (fully paid at the end of the loan) precluding successive loans, and had fixed interest rates and payments. Fixed-rate mortgages are the most classic form of loan for home and product purchasing in the United States. The most common terms are 15-year and 30-year ...

  9. Mortgage application: What’s included and how to prepare - AOL

    www.aol.com/finance/mortgage-application...

    With many mortgage lenders, you can apply for a mortgage online and complete the process in 45 minutes or less — if you have all of your information ready beforehand. That’s a big if, of course.