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Cut rates - Waterloo Cedar-Falls CourierWATERLOO --- The average rate on long-term mortgages is hitting its lowest level in decades, prompting many homeowners to consider refinancing their current mortgage. The mortgage rates for a 30-year loan have fallen for nine straight weeks to reach ...
Iowa-based Lee reports grim money situation - Des Moines RegisterLee Enterprises, a Davenport-based newspaper company, says it does not have enough cash flow from operations to meet expenses and debt payments in 2009. The company laid out its predicament in its annual report, a copy of which was filed with the U.S ...
Today's Mortgage Terms starting with D
Default: Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.
Discounted Loan: When the note rate on a loan is lower than the market rate, it is a discounted loan.
Discount Point: A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.
Down Payment: The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.
View all Terms