Posted on: 22nd Jul, 2005 11:26 pm
Terms for I
- Index
Index is a published interest rate that is used to establish the interest rate offered on an ...
- Impound Account
The term Impound Account or Escrow Accounts means a bank account which is set up by the ...
- Indexed Rate
Interest rates on adjustable rate mortgages (ARMs) depend upon the changes in an economic ...
- Initial Interest Rate
Initial interest rate is the introductory rate that a lender offers on your adjustable rate ...
- Installment Loan
Installment Loan is a purchase agreement in which the borrowed money is repaid in equal...
- Insured Mortgage
Insured mortgages are mortgages insured either by the Federal Housing Administration ...
- Interest
Interest can be defined as an additional charge on the principal balance of the loan. It is ...
- Interim Financing
Interim Financing is a short term construction loan made during completion of a building or a ...
- Investment Property
Investment Property is a real estate, owned with the intention of earning a return from it. The ...
- Islamic Mortgage
Islamic Mortgage is an innovative financial product. It is against the Islamic law to pay or ...
- Illiquidity
Illiquidity is a condition in which a person has inadequate cash to meet current obligations.
- Implied Contract
Implied Contract is a legal relationship which is created by actions of the parties, without ...
- Individual Saving Account Mortgage
Individual Saving Account Mortgage uses stock market-based investments for tax-free growth ...
- Interest Only Payment
Interest-only payment is a repayment option available with fixed rate mortgages, adjustable ...
- Interest Rate Ceiling
Interest Rate Ceiling is the absolute maximum interest rate that a lender can charge for an...
- Interest Rate Differential
Interest Rate Differential is a type of compensation, which is charged by the lender if the...
- Interest Rate Floor
Interest Rate Floor refers to the minimum interest rate that the lender charges on an ...
- Interest Rate Swap
Interest Rate Swap refers to an agreement between two parties that allows them to exchange ...
- Intermediate-Term Mortgage
Intermediate-Term Mortgage is a mortgage loan with a contractual maturity at time of purchase ...
- Junior Mortgage
Junior mortgage is a home loan which is subordinate to the claims of a previous mortgage ...
- Joint Tenancy
Joint Tenancy is a form of ownership by two people, usually spouses, that gives each person ...
- Joint Venture
Joint Venture is an agreement between two or more than two parties, who invest in property ...
- Judicial Foreclosure
The mortgage laws in each state in the United States permit two kinds of foreclosure ...
- Jumbo Loan
Jumbo loans or non-conforming mortgages are home loans that have limits higher than ...
- Kicker
Kicker is an income feature added to a mortgage loan program through which the borrower ...
- Lease-purchase Mortgage Loan
Lease-purchase Mortgage Loan is an alternative financing option that allows low-and ...
- Liquid Asset
Liquid Asset is an asset, cash or any other property, that can be easily and quickly converted ...
- LIBOR
The term LIBOR or the London Inter Bank Offering Rates is simply an average of the interest ...
- Laches
Laches refers to undue delay or negligence in asserting the legal rights of an individual. It ...
- Late Charge
Late Charge is the penalty that lenders charge from borrowers on account of making their ...
- Lease
A lease or tenancy refers to an interest in the personal property or real property given by a ...
- Lease Hold Mortgage
Lease hold mortgage is a mortgage loan on a home, where the borrower does not actually ...
- Leasehold Estate
Leasehold Estate refers to an ownership interest in property which a lessee or tenant ...
- Lien
Lien is a legal claim or attachment against a piece of property, for the payment of a debt ...
- Loss Mitigation
Loss Mitigation are the activities designed to reduce, the chances of the corporation ...
- Low Down Mortgage
Low down payment mortgage is a type of loan, in which borrower is required to make ...
what does LTV stand for?
Hi Saltines,
LTV stands for Loan to Value which is the percentage relationship between the loan amount and the appraised value or sales price whichever is lower.
God bless you.
For MortgageFit,
Samantha
LTV stands for Loan to Value which is the percentage relationship between the loan amount and the appraised value or sales price whichever is lower.
God bless you.
For MortgageFit,
Samantha
What is the difference between full doc and limited review? What parts are left out, and what is left in? Thank you.
Hi Kevizona,
Limited doc review refers to the fact that the documents provided by the borrower is not completely reviewed by the lender. Such type of mortgages were offered by the lenders before the sub-prime mortgage crisis hit the market. Such type of loans are not available these days. In today's market, you will get full doc loans only where the lender will review each and every information offered by you.
Thanks
Limited doc review refers to the fact that the documents provided by the borrower is not completely reviewed by the lender. Such type of mortgages were offered by the lenders before the sub-prime mortgage crisis hit the market. Such type of loans are not available these days. In today's market, you will get full doc loans only where the lender will review each and every information offered by you.
Thanks