Total Expense Ratio
Definition of "Total Expense Ratio"
The ratio of total housing expense to borrower income. This ratio is used (along with other factors) in qualifying borrowers.
Popular Mortgage Terms
The initial interest rate on an ARM, when it is below the fully indexed rate. ...
A government-owned or -affiliated lender that makes home loans directly to consumers. With minor exceptions, government in the U.S. has never loaned directly to consumers, but housing banks ...
The party advancing money to a borrower at the closing table in exchange for a note evidencing the borrowers debt and obligation to repay. Retail, Wholesale, and Correspondent Lenders: ...
A lender that provides loans through mortgage brokers or correspondents. ...
Administering loans between the time of disbursement and the time the loan is fully paid off. Servicing includes collecting payments from the borrower, maintaining payment records, ...
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 ...
A plan purporting to protect FHA homebuyers against property defects. ...
A second mortgage offered at preferential (subsidized) terms to those who qualify. For example, a labor union may offer members who are first-time home buyers a silent second to finance ...
The period you must retain a mortgage in order for it to be profitable to pay points to reduce the rate. ...
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