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News about Mortgages:
Latest Pictures - Newstrack IndiaMumbai, Nov 6 (ANI): State Bank of India loans will now be cheaper with the bank deciding to cut its Prime Lending Rate (PLR) by 0.75 per cent from Monday. SBI Chairman O P Bhatt told reporters in Mumbai on Thursday that the bank's Miss Tibet 2008 ...
Gordon Brown: world leaders should create 'truly global society' - Daily TelegraphMr Brown will use a high-profile speech in the City of London to say that Britain, the US and Europe should join together to provide leadership in the creation of a "stronger and more just international order". This weekend's emergency summit of ...
Gordon Brown hints at tax cuts - Guardian UnlimitedGordon Brown was criticised by the Tories today as he suggested the government will announce tax cuts in the forthcoming pre-budget report to push the UK out of recession. In an interview with GMTV this morning, the prime minister said: "What I am ...
PM Hints At Tax Cuts For Families - Sky.comThe Prime Minister says tax cuts could be used to get the UK out of recession. Consumer confidence in run-up to Christmas is falling Gordon Brown hinted tax reductions could be on the way for families in the next few days. "Of course we are going to ...
Tories: Cut Taxes To Help Business - Sky.comDavid Cameron says the Tories want to change the tax system to help reduce unemployment. Consumer confidence in run-up to Christmas is falling The Conservative Party leader told the Conservative Women's Conference a government led by him would make ...
Today's Mortgage Terms starting with P
Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
Principal: It is the amount of money borrowed or owed, excluding interest.
View all Terms