APR – This stands for Annual Percentage Rate. It enables you to compare the full cost of the mortgage. Rather than just being an interest rate, it includes up front and ongoing costs of taking out a mortgage. The formula for calculating APR is set by Government Regulations and therefore enables direct comparison of the [...]
Posts Tagged ‘Terms’
Glossary of common terms used during the mortgage process.
Posted by admin on December 22nd, 2009
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No Comments »Choosing the Right Mortgage – Basic Mortgage Terms and Features
Posted by admin on December 20th, 2009
Choosing the Right Mortgage – Mortgage Basics There is an astounding range of commercially available mortgage products, which makes choosing the right mortgage increasingly difficult without a firm grasp of mortgage basics. Here we try to give the consumer struggling to understand the basics of what a mortgage is, how it operates, and what features are [...]
Posted in Articles Tags: Astounding Range, Basic, Choosing, Closing Date, Distinctions, Features, Final Decision, Grasp, Instances, Key Mortgage, mortgage, Mortgage Basics, Mortgage Broker, Mortgage Decision, Mortgage Mortgage, Mortgage Products, Mortgage Terms, Mortgagee, Mortgagor, Ownership Changes, Person Company, Private Lender, Property Ownership, Purchaser, Right, Terms No Comments »