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News about Mortgages:
York County deed transfers for March 18 - York Daily RecordYork County deed transfers for March 18York Daily Record39 W. Philadelphia St.: Deetta F. Gray to Benton and Jessica Jackson for $39000. 623 Vander Ave.: Federal Home Loan Mortgage Corp. to Kenneth and Laura ...
Digging Out of Debt and Surviving the Downturn - Consumer AffairsDigging Out of Debt and Surviving the DownturnConsumer Affairs“The only way to get ahead is to change your lifestyle,” notes Gregory J. Kurinec, CEA, a financial advisor at Benton Financial Group, Inc. in Naperville, ...and more »

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Today's Mortgage Terms starting with P
Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
Principal: It is the amount of money borrowed or owed, excluding interest.
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