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News about Mortgages:
Heading up the 'Big River' in East Haddam - Middletown PressHeading up the 'Big River' in East HaddamMiddletown Press, CT - Nov 13, 2008Goodspeed Opera House in East Haddam invites you to get reacquainted with Tom and Huck and travel from St. Petersburg, Mo., down the Mississippi in "Big ...
Dodd's Deals: Nothing Unusual About Fed Probe? - Hartford CourantDodd's Deals: Nothing Unusual About Fed Probe?Hartford Courant, United States - Nov 9, 2008Dodd and his wife also got a home equity loan on their Connecticut property in East Haddam from Countrywide that day. But the course those loans took was ...
Decision 2008: Judgment day looms for McCain, Obama - Norwich BulletinDecision 2008: Judgment day looms for McCain, ObamaNorwich Bulletin, CT - Nov 1, 2008Laurie Long, 20, an East Haddam resident who attends Three Rivers Community College in Norwich, said Tuesday she was going to vote for McCain, ...
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