Business / Taxes / Fixed-Rate Mortgage: A fixed-rate mortgage is a long-term loan that you use to finance a real estate purchase, typically a home. Your borrowing costs and monthly payments remain the same for the term of the loan, no matte MORE
Business / Finance / Negative Amortization: A loan repayment schedule in which the outstanding principal balance of the loan increases, rather than amortizing, because the scheduled monthly payments do not cover the full amount required to amor MORE
Business / Real Estate / Va Loan: A government-sponsored mortgage assistance program administered by the Department of Veterans Affairs. Under the Servicemens Readjustment Act of 1944, eligible veterans and widows or widowers (who hav MORE
Business / Finance / Prepayment Penalty: A fee a borrower pays a lender when the borrower repays a loan before its scheduled time of maturity. MORE
Business / Taxes / Balloon Mortgage: With a balloon mortgage, you make monthly payments over the mortgage term, which is typically five, seven, or ten years, and a final installment, or balloon payment, that is significantly larger than MORE