1 of 115
Definition
A provision in some loans that charges a fee to a borrower who makes
mortgage payments ahead of schedule.
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Due-on-sale Pre-Payment Penalty
, Hard Penalty Loan Acceleration
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2 of 115
Definition
Lenders inquire about how much money a borrower has saved to pay a
deposit or down payment for the home intended to purchase.
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Character Principal
Collateral Capital
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3 of 115
Definition
An arrangement in which the owner of a dwelling or structure does not
own the land on which the structure resides.
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, Contract Rent Excess Rent
Ground Rent Economic Rent
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4 of 115
Term
The midpoint in the family income range for a metropolitan statistical
area of for the non-metropolitan parts of a state
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Location Of Your Home Closing Costs
Interest Only Terms Area Median Income
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5 of 115
Definition
, A mortgage loan backed by private lenders. Loans with a DP less than
20% of purchase price may require private mortgage insurance (PMI)
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Adjustable Rate Mortgage Conventional Loan
Nonconforming Loan Home Equity Loan
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6 of 115
Definition
An initial temporary interest rate on an ARM that results in lower
mortgage payments and only remains in effect for a short period of
time before increasing.
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Teaser Rate Index Rate
Discount Rate Annual Percentage Rate
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Definition
A provision in some loans that charges a fee to a borrower who makes
mortgage payments ahead of schedule.
Give this one a try later!
Due-on-sale Pre-Payment Penalty
, Hard Penalty Loan Acceleration
Don't know?
2 of 115
Definition
Lenders inquire about how much money a borrower has saved to pay a
deposit or down payment for the home intended to purchase.
Give this one a try later!
Character Principal
Collateral Capital
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3 of 115
Definition
An arrangement in which the owner of a dwelling or structure does not
own the land on which the structure resides.
Give this one a try later!
, Contract Rent Excess Rent
Ground Rent Economic Rent
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4 of 115
Term
The midpoint in the family income range for a metropolitan statistical
area of for the non-metropolitan parts of a state
Give this one a try later!
Location Of Your Home Closing Costs
Interest Only Terms Area Median Income
Don't know?
5 of 115
Definition
, A mortgage loan backed by private lenders. Loans with a DP less than
20% of purchase price may require private mortgage insurance (PMI)
Give this one a try later!
Adjustable Rate Mortgage Conventional Loan
Nonconforming Loan Home Equity Loan
Don't know?
6 of 115
Definition
An initial temporary interest rate on an ARM that results in lower
mortgage payments and only remains in effect for a short period of
time before increasing.
Give this one a try later!
Teaser Rate Index Rate
Discount Rate Annual Percentage Rate
Don't know?
