It is based on the results of auctions that the.S.
Back to top G Good faith estimate (GFE) An itemized, detailed list of certain estimated costs associated with a home loan that the lender is required to provide to the borrower within 3 business days of the application.
The farmer delayed the harvest to give the fruit more time to reach maturity.
Inquiry A request for your credit report, made by you or a company considering you for an offer of credit.Convertibility clause A provision in some adjustable-rate mortgages (ARMs) that allows the borrower to change the ARM to a fixed-rate loan at specified times during the life of the loan.The Small Business Administration has a number of programs available for small businesses to borrow money.The amount of time required to amortize (pay off) the loan, expressed in months.Broker A third party who arranges funding or negotiates a contract between parties, but does not lend the money.
Payments may increase or decrease accordingly.
When property is classified as a second home, rental income may not be used to qualify the applicant.
Flood certification A determination by a reputable source about whether property is located within a special flood hazard zone.
In some states, the court may place a lien against the debtors real property as collateral for payment of the judgment to the creditor.
Commitment letter A formal notification from a lender stating that the borrowers loan has been conditionally approved and specifying the terms under which the lender agrees to make the loan.Convey To transfer or deliver title to property from one to another by deed or contract.The property cannot be considered income-producing and must not be part of a mandatory rental pool, but occasionally may be rented to friends and relatives.Settlement The completion of a propertys sale or purchase, or the completion of all prostitution in malaysia phone number steps necessary to receive the proceeds of (and create an obligation to repay) a loan.Lenders may charge a lower interest rate for the initial period of the loan.Lock period The amount of time prior to closing that you can secure an interest rate for your loan.