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Adjustable rate mortgage or ARM - A mortgage where the interest rate adjusts relative to a specified index + margin. E.g. COFI, LIBOR etc.; Hybrid ARM - An adjustable rate mortgage where the initial 'start' rate is fixed for some portion of time (3,5,7, or 10 years) thereafter the interest rate adjusts (yearly or bi-annually) based on the sum of a specified index + margin.
K – Is used as an abbreviation for 1,000. For example, $225K would be understood to mean $225,000, and $3.6K would be understood to mean $3,600. Multiple K's are not commonly used to represent larger numbers. In other words, it would look odd to use $1.2KK to represent $1,200,000. Ke – Is used as an
Obtaining a mortgage loan means dealing with a lot of paperwork, from the documents you have to submit to documents you have to read and sign. More often than not, you're dealing with terms and ...
Harry Potter Alliance, a charity; Halifax Port Authority, Canada; Hamburg Port Authority, Germany; Hawaii Preparatory Academy, a school in Hawaii, US; Health Protection Agency, UK
Private mortgage insurance (PMI) is a form of insurance taken out by the lender but typically paid for by you, the borrower, when your loan-to-value (LTV) ratio is greater than 80 percent (meaning ...
HFA loan pros and cons. An HFA mortgage has its pros and cons to consider before deciding if it’s the best choice for you: Pros of HFA loans. Low down payment requirement and closing costs: With ...
Mortgage balances outstanding – the total mortgage balances outstanding at a given point of time. Net mortgage lending – the total change in balances outstanding between two points in time, this can also be calculated by adding together the total gross lending in a period, less repayments, redemptions and loan losses in the same time period.
Mortgage bankers are often confused with mortgage brokers, but they’re very different. A mortgage banker is tied to one financial institution, while a mortgage broker works independently of lenders.