A written statement that estimates closing costs the borrower must pay within three days of the loan application.
The government entity that provides funds for VA and FHA loans.
A residential mortgage in which the payments begin low, but increase over the life of the loan.
A person who acquires an interest in land by some official document
A person who transfer an interest in land to another.
Total income before all expenses are deducted.
The total income earned by a borrower per month before expenses are deducted.
A payment plan that accelerates the repayment of a loan by increasing the payments every year by some predetermined factor. This typically cuts a 30-year repayment loan down to 15-20 years.
A contractual agreement to pay a debt or perform an obligation made by two parties in the event of that person
A party assigned by the courts that oversees and carries out the wishes of a party who cannot represent himself.
