Search results
Results from the WOW.Com Content Network
A co-borrower, also referred to as a co-applicant or co-requestor, is an additional person on a mortgage. In a co-borrowing situation, both borrowers complete an application, and the mortgage ...
When you co-sign to help somebody else qualify for a mortgage, the relationship between you and the primary borrower taking out the loan doesn't matter, as long as it's fully explained and documented.
The co-signer’s income is also not typically considered on top of the primary borrower’s income. On the other hand, joint borrowing assures the lender that multiple sources of income are going ...
Take application: this step is initiated by a borrower and results in an application to borrow money to purchase a real estate property that includes details of the mortgage product, property specifications, borrower information and supporting documentation. The application is filled out by the borrower, either through self-services or with the ...
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 ...
A participation mortgage or participating mortgage is a mortgage loan, or sometimes a group of them, in which two or more persons have fractional equitable interests.In this arrangement the lender, or mortgagee, is entitled to share in the rental or resale proceeds from a property owned by the borrower, or mortgagor.
A co-borrower can help you get approved for a mortgage loan you don't qualify for on your own -- or take out a bigger loan than you could get otherwise.Check Out: 8 Places Where Houses Are Suddenly...
A multiple listing service (MLS, also multiple listing system or multiple listings service) is an organization with a suite of services that real estate brokers use to establish contractual offers of cooperation and compensation (among brokers) and accumulate and disseminate information to enable appraisals.