5/28/2023 0 Comments Metes and bounds realty camarilloApplication Fee A fee usually paid at the time an application is given to a lender for helping to complete and review an application. Lenders also sometimes call it a 1003-the form number of Fannie Mae’s standard application form. Application (or 1003) A form to be completed by a home loan applicant with the lender’s assistance to provide pertinent information about a prospective borrower’s employment, income, assets, debts and other financial information, about the purpose of the home loan, and about the property securing the home loan. The APR more accurately reflects what you’ll be paying and allows you to compare different mortgages based on actual costs. Because APR includes points and other costs associated with the mortgage, it’s usually higher than the advertised simple interest rate. This refers to the interest rate that reflects the actual cost of a mortgage as a yearly rate. Annual Percentage Rate (APR) stands for Annual Percentage Rate. Amortize To repay a loan with regular payments that cover both principal and interest. For example, for a 30 year fixed rate loan, the amortization term is 360 months. The amortization term is expressed as a number of months. Amortization Term (period) The amount of time it takes to pay off the loan. An amortization schedule shows the amount of each payment applied to interest and principal and the remaining balance after each payment is made. Amortization Schedule A timetable for payment of a home loan. Amortization The gradual repayment of a home loan by periodic installments. Man-made amenities include swimming pools, tennis courts, community buildings, and other recreational facilities. Natural amenities include a pleasant or desirable location near water, scenic views, etc. Amenity A feature of real property that enhances its attractiveness and increases the occupant’s or user’s satisfaction, although the feature is not essential to the property’s use. To protect you in a rising interest market, rate increases are limited (usually 2 percentage points annually 6 percentage points over the life of the loan). Your mortgage payments are adjusted up or down (usually on an annual basis) as the interest rate changes. An ARM is a mortgage with an interest rate that adjusts periodically to reflect changes in market conditions. Adjustable Rate Mortgage (ARM) stands for Adjustable Rate Mortgage, also referred to as a Variable Rate Mortgage. Additional Principal Payment A payment made by a borrower of more than the scheduled principal amount due, in order to reduce the outstanding balance on the loan, to save on interest over the life of the loan and/or pay off the loan early. No other real estate agency has the performance metrics to back it up.we've proven there's a better way to sell real estate.A | B | C | D | E | F | G | H | I-J-K | L | M-N-O| P | Q | R | S | T | U-V | W-X-Y-ZĪ Acceptance A buyer’s or seller’s agreement to enter into a contract and be bound by the terms of the offer. No other agency offers the POWERHOUSE Package™. Promise and deliver.scalable, predictable, hassle free and profitable for the seller. Clean once, show once - SOLD! We have taken the guess work out of selling through a turn-key selling process and in doing so, eliminate seller dread and inconvenience associated with selling their home. We have proven there's a better way to sell real estate through our POWERHOUSE Package™. We sell real estate better than any other real estate agency by providing benefits all real estate agencies should - but don't. Clean once, show once - SOLD! We have taken the.ĭistinctive competency.
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