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Tutorial on Selecting Mortgage Features
Planning to shop for a mortgage on-line? You need to answer the following questions first, so you know exactly what you are shopping for. 1. What Type of Mortgage Should I Select? 2. Which Mortgage Options Should I Select? 3. How Long a Term Should I Take? 4. ... more... Interest-Only Mortgage Tutorial Here is what you will learn in this tutorial: 1. What is an interest-only mortgage? 2. For what types of borrowers is it suitable? 3. What are the hazards you should watch out for? 4. What information do you need to assess an IO mortgage? 5. How ... more... |
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what is the definition of prime rate related definitions |
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Loan Origination Fees
Loan Origination Fees Charge by a lender or broker connected with originating a loan. Different from discount points which are used to buy down the rate of interest. A point is simply one percent of the total loan amount. Loan origination fee usually varies from 0.5% to 2% ... more... Adjustable Rate Mortgage, ARM Adjustable Rate Mortgage (ARM) Also known as a variable rate mortgage. The interest rate on these mortgages changes periodically. Variable or adjustable loans are loans whose interest rate fluctuates over the period of the ... more... |
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