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While there are differences between getting preapproved vs. prequalified, both processes usually involve credit checks: a soft check for prequalification and a hard check for preapproval.
Property type can be classified as the following in the order of risk from lowest to highest: single family residence, PUD, duplex, townhouse, low rise condominium, high rise condominium, triplex and four-plexes and condotels. Occupancy is also considered part of collateral. A home can be owner occupied, used as second home or investment. Owner ...
Buying a home is intimidating, to say the least. Being able to afford one is hard enough, and if you get past that hurdle, it's on to dealing with a hot housing market, getting an offer accepted ...
Bonds are widely dispersed and the holder's identity is often unknown to the issuer or other bond holders due to the intermediate holding of securities. Scheme of arrangement require majority in number (head-count test) whereas if bonds are issued on a global note there is only one true creditor with sub participation through trusts.
A mortgage bond is a bond backed by a pool of mortgages on a real estate asset such as a house. More generally, bonds which are secured by the pledge of specific assets are called mortgage bonds. Mortgage bonds can pay interest in either monthly, quarterly or semiannual periods. The prevalence of mortgage bonds is commonly credited to Mike Vranos.
Lenders may differ in how they use the terms, but a mortgage preapproval is generally the more thorough and helpful in determining how large of a mortgage you can get.
Preapproval: What it is and how it works. Preapproval is a much more comprehensive process than prequalification. Mortgage preapproval is a lender's conditional commitment to offer you a specific ...
Callable bond: allows the issuer to buy back the bond at a predetermined price at a certain time in future. The holder of such a bond has, in effect, sold a call option to the issuer. Callable bonds cannot be called for the first few years of their life. This period is known as the lock out period.