Payment Adjustment Interval
The period between payment changes on an ARM, which may or may not be the same as the interest rate adjustment period.
Popular Mortgage Terms
Someone recommended you should reach out to Freddie Mac and you came here looking for him. No, he's not a registered real estate agent at The OFFICIAL Real Estate Agent Directory ...
The federal law that specifies the information that must be provided to borrowers on different types of loans. Also, the form used to disclose this information. Truth in Lending (TIL) is ...
The highest rate possible under an ARM contract; same as 'lifetime cap.' It is often expressed as a specified number of percentage points above the initial interest rate. ...
The option to convert an ARM to an FRM at some point during its life. ...
A Web site of an individual lender offering loans to consumers. Most Internet shoppers want a list of lenders in whom they can have confidence, who will provide them with the information ...
Fees collected by a loan officer from a borrower that are lower than the target fees specified by the lender or mortgage broker who employs the loan officer. An underage is the opposite ...
The period between payment changes on an ARM, which may or may not be the same as the interest rate adjustment period. ...
Mortgages delivered using the Internet as a major part of the communication process between the borrower and the lender. ...
Using a brokers time and expertise to become informed and creditworthy, then jumping to the Internet to get the loan. ...
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