Define: premium pricing Definition: Premium pricing is a credit from a lender for the interest the interest rate chosen. Premium pricing... read more →
Define: net worth Definition: Net worth is assets minus liabilities.
Define: mortgage lender Definition: A mortgage lender is a lender providing funds for a mortgage. They can also manage financial information... read more →
Define: mortgage investors Definition: Mortgage investors are individuals or companies that purchase mortgages after the closing.
Define: mortgage broker Definition: A mortgage broker is a person that renders origination services and serves as the intermediary between a borrower and... read more →
Define: leverage Definition: Leverage is the use of borrowed funds to increase yield.
Define: lender credits Definition: Lender credits a credit that a lender may offer a borrower to help with closing costs. The lender... read more →
Define: junior lien Definition: A junior lien is a loan that is subordinate to a primary loan, such as a second or... read more →
Define: interest Definition: Interest is the fee charged for the use of money.
Define: high priced mortgage loan Definition: A high priced mortgage loan is a mortgage loan with an APR 1.5 percent high than... read more →
Tiny Houses One of the newest trends sweeping the country is the tiny home movement. Tiny homes, typically under 500 square... read more →
Define: high interest rates Definition: High interest rates are rates that exceed a specified threshold and require HOEPA disclosures.
Define: high cost mortgage loan Definition: A high cost mortgage loan is a mortgage loan where the APR exceeds the Average... read more →
Define: fully indexed rate Definition: The fully indexed rate is the interest rate calculated using the index value and margin at... read more →
Define: fraud alert Definition: A fraud alert is a statement in the file of a consumer that notifies all prospective users... read more →
Define: finance charge Definition: A finance charge is the total amount of interest and loan charges a borrower would pay... read more →
Define: federal mortgage loan Definition: A federal mortgage loan is a mortgage loan the provides full or partial government reimbursement to approved... read more →
Define: escrow account Definition: An escrow account (also known as an impound or reserve account) is an account that a mortgage servicer establishes... read more →
Define: entitlement Definition: Entitlement is the amount of money the VA promises to pay back the lender in case the borrower... read more →
Define: eminent domain Definition: An eminent domain is the condemnation of private property for public good.
Define: easement Definition: An easement is a right to the use of/access to land owned by another.
Define: disintermediation Definition: Disintermediation is the withdrawal of funds from savings accounts and into stocks, bonds, and real estate.
Define: discount points Definition: Discount points are a percentage of the loan amount paid to the lender to buy down the... read more →
Define: delinquent loan Definition: A delinquent loan happens when a mortgage payment in late.
Define: Constructive notice Definition: A constructive notice is a notice which is recorded in public records.
Define: creditor Definition: A creditor is any person or business who arranges for the extension, renewal, or continuation of credit.
Define: conveyance Definition: Conveyance is the act of transferring ownership interest in real property from one party to another. Additionally, conveyance refers... read more →
Define: consumer credit Definition: Consumer credit is a debt that a person incurs when purchasing a good or service. Consumer credit includes... read more →
Define: borrower capacity Definition: Borrower capacity is the borrower's ability to make their mortgage payments on time. This depends on income... read more →
Define: Chattel Mortgage Definition: A chattel mortgage is a mortgage on a personal property.
Define: average prime offer rate Defintion: An average prime offer rate (APOR) is the annual percentage rate that is derived from average... read more →
Define: What is an assumable mortgage? Definition of assumable mortgage: An assumable mortgage is a mortgage loan that can be taken over... read more →
Define: What does a real estate appraiser do? Definition: An appraiser is the individual performing the appraisal. When the property is... read more →
Define: Actual Notice Definition: An actual notice is a notice which is not recorded in public records.
An adjustable rate mortgage (ARM) is a type of mortgage loan where the interest fluctuates as market rates fluctuate. Your... read more →
What is a Septic Inspection? A septic inspection examines your home's septic system — a private, on-site waste disposal system that... read more →
While you can legally refinance at any time, there may be some costly consequences to this decision. When considering refinancing,... read more →
In 1974, Congress passed the Equal Credit Opportunity Act, under President Gerald Ford. The Equal Credit Opportunity Act (ECOA) makes... read more →
As children, we all dreamed of having our very own treehouse, and the lucky ones had their dreams fulfilled. As... read more →
What is the Difference Between Mobile Homes and Modular Homes? Many people believe that mobile and modular homes are the... read more →
House hunting is both an exciting and daunting task. Many home buyers are so excited with their final choice for... read more →
Modern trends are always changing and evolving and have a great impact on home design. Today's generation is embracing what... read more →
News provided by Garden State Home Loans, Inc. NMLS#473163 CHERRY HILL, New Jersey, September 8th, 2017 - Garden State Home... read more →
Did your mortgage application get denied? Before you count yourself out for mortgage eligibility, read up on the latest changes... read more →
A home appraisal is a report that assesses and estimates a home's true value. During the mortgage application process, the... read more →