Tag: lenders

Variable Rate Mortgage

DefinitionA variable-rate mortgage, adjustable-rate mortgage, or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an...
Federal Home Loan Bank System

Federal Home Loan Bank System (FHLB)

What is the Federal Home Loan Bank System (FHLB)? The Federal Home Loan Bank System is a network of 12 regional banks that provide financial...

Fixed Interest Rate Loan

Definition A fixed interest rate loan is a loan where the interest rate doesn't fluctuate during the fixed rate period of the loan. This allows...

Warehouse Lending

What is 'Warehouse Lending' Warehouse lending is a line of credit given to a loan originator to pay for a mortgage the borrower used to...

Qualifying Ratios

What is 'Qualifying Ratios' A set of ratios that are used by lenders to approve borrowers for a mortgage. The borrower's front-end...

Teaser Loan

By definition, a teaser loan, also called an adjustable rate mortgage loan, is where the interest is paid at a very low rate by...

Tax Credit

DefinitionA tax credit is a tax incentive which allows certain taxpayers to subtract the amount of the credit they have accrued from the total...

Take-Out Lender

What is 'Take-Out Lender' A type of financial institution that provides a long-term mortgage on property. This mortgage will replace interim financing,...

Day Loan

What is 'Day Loan' A temporary transfer of funds from a bank to an individual broker or a brokerage firm that is...

Home Mortgage

DefinitionA mortgage loan or, simply, mortgage is used either by purchasers of real property to raise funds to buy real estate, or alternatively by...

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