Category: Mortgage industry of the United States

Lenders mortgage insurance

Lenders mortgage insurance ( LMI ), also known as private mortgage insurance ( PMI ) in the US, is a mortgage insurance mortgage loan . It is insurance to offset losses in the case where a mortgagor is not able to repay the loan and the lender is not able to recover its costs after foreclosure and sale of the mortgaged property. [1] Typical rates are $ 55 / mo. Per…


Blanket loan

A blanket loan , or blanket mortgage , is a type of loan used to fund the purchase of more than one piece of real estate . Blanket loans are popular with builders and developers who buy large tracts of land, then subdivide them to create many individual parcels to be gradually sold one at a time. Rather than securing a new mortgage each time…


Constant Mortgage

Mortgage constant , also called “mortgage capitalization rate ” is the capitalization rate for debt. It is usually computed monthly by the principal mortgage payment. An annualized mortgage can be found by multiplying the monthly constant by 12, or dividing the. [1]…


VA loan

A VA loan is a mortgage loan in the United States, by the United States Department of Veterans Affairs (VA). The loan may be issued by qualified lenders ….


Stated income loan

An income tax return is a mortgage where the income of the borrower is tax – deductible , income tax returns, or other records. Instead, borrowers are simply asked to state their income, and taken at their word. These loans are sometimes called loans or liar loans . [1] Stated income loans Were originated by Ameriquest . [2]…


Mortgage revenue bond loan

A Mortgage Revenue Bond Loan or bond loan is a type of mortgage loan where the cost of borrowing is partially subsidized by a mortgage income bond . However, in order to reduce the burden of borrowing on the borrower, the borrower may be able to finance the borrower. In the United States , mortgage revenue bond loans-have supported an average of 100,000 home purchases Single for…


Mortgage origination

Mortgage origination , has Specialized subset of loan origination , in consumer lending is the process by qui a lender works with a borrower to a full mortgage transaction resulting and in a mortgage loan . A mortgage is a loan in which property or real estate is used as collateral. During this process, borrowers must submit various types of financial information…


Mortgage Assumption Value

The mortgage assumption value ( MAV ) is the cash equivalent, at the current point-in-time, of all future savings That Could be Achieved by Assuming an existing low-interest-rate home mortgage loan Rather than Taking out a new Higher interest rate loan and Accounting for the time value of money. [1]…


Mortgage assumption

Mortgage assumption is the conveyance of the present mortgage to the buyer of a financed property , commonly requiring that the assuming party is qualified under lender or guarantor guidelines. [1] All mortgages are potentially assumable, though lenders may attempt to prevent assumption of a mortgage loan with a due-on-sale clause . Some kinds are irrefutably mortgage assumable, Such As Those insured by the FHA , guaranteed by the VA ,…


Loan purpose

Loan purpose is a term in United States mortgage industry to show the Underlying Reason year with application is seeking a loan . The purpose of the loan is used by the lender to make decisions on the risk and may even impact the interest rate that is offered. For example, if an applicant is refinancing a mortgage after having taken some cash out, the lender…