Real Estate Term of the Day: Locked-In Interest Rate

Real Estate Term of the Day: Locked-In Interest Rate LOCKED-IN INTEREST RATE – the rate by a lender at the time of loan application. The promise is a legal commitment of the lender, though there may be qualifications or contingencies that allow the lender to charge a higher rate (Barron’s Dictionary of Real Estate Terms)  There … More Real Estate Term of the Day: Locked-In Interest Rate

Real Estate Term of the Day: Loan-To-Value (LTV) Ratio

Real Estate Term of the Day: Loan-To-Value (LTV) Ratio LOAN-TO-VALUE (LTV) RATIO – the portion of the amount borrowed compared to the cost or value of the property purchased – that is, mortgage debt divided by the value of the property. Lenders are often constrained as to the maximum loan-to-value ratio on loans they originates … More Real Estate Term of the Day: Loan-To-Value (LTV) Ratio

Real Estate Term of the Day: Loan Origination, Loan Processing & Underwriter

Real Estate Term of the Day: Loan Origination, Loan Processing & Underwriter LOAN ORIGINATION – the process of making a new loan from marketing to closing (Barron’s Dictionary of Real Estate Terms)  LOAN PROCESSING – the steps a lender takes in the loan approval process, from application for a home mortgage through to closing (Barron’s Dictionary of Real … More Real Estate Term of the Day: Loan Origination, Loan Processing & Underwriter