MORTGAGE DICTIONARY

Fairway Asset Corporation - MORTGAGE DICTIONARY

Morgage Dictionary

All | # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
There are currently 5 names in this directory beginning with the letter L.
Lender Credit
A credit paid by the lender to the borrower for taking an above-market interest rate.

Lender Fees
Often called processing fees, deigned to cover costs incurred by lenders during the loan process and included in the fees associated with closing costs.

Lien
A claim upon a piece of property for the payment or satisfaction of a debt or obligation.

Loan-To-Value (LTV) Ratio
The relationship between the amount of the mortgage loan and the appraised value of the property expressed as a percentage.

Lock
The act of securing an interest rate on a loan. Prior to a lock, future rate fluctuations in the market will not affect the interest rate on your loan.
X