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: “Location, Location, Location” “LOCATION, LOCATION, LOCATION” – the “three most important things about real estate”; a popular statement that emphasizes the importance of location with respect to the value of urban real estate (Barron’s Dictionary of Real Estate Terms) But is it all about location, location, location? I was … More Real Estate Term of the Day: “Location, Location, Location”
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 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
LESLIE MONACO REAL ESTATE 