Location: Greenville, South Carolina Education: MBA University of South Carolina Expertise: Mortgage Financing Work: CEO of Mortgage Rates Today and Author Follow me on Social Media:
https://twitter.com/mortratestoday
https://www.facebook.com/USmortgageratestoday/
https://www.linkedin.com/in/mark-verhoeven-south-carolina
https://www.youtube.com/channel/UC2Q–6ZoKWL86u1-u9pE9cQ/videos
What is an Assumption Clause? An assumption clause in a mortgage contract allows the seller of a home to transfer liability for the current mortgage to the property’s buyer. In other words, the new homeowner takes over the old mortgage and, with it, the property that serves as collateral for the loan. The buyer must […]
What are Attorney fees? Attorney’s fee is a word used mostly in the United States to describe the remuneration paid to an attorney for legal services rendered to a client, whether in or out of court. The charge might be hourly, flat-rate, or dependent. According to recent research, when attorneys charge a flat fee rather […]
Balance sheet explained A balance sheet is a financial statement that shows the assets, liabilities, and shareholder equity of a corporation at a certain point in time. Balance sheets serve as the foundation for calculating investor returns and assessing a company’s financial structure. In a nutshell, a balance sheet is a financial statement that shows […]
What is a Balloon Mortgage? A Balloon mortgage is a real estate loan with a low or no monthly payment term that ends with the borrower having to pay off the entire total in one lump sum. The interest rate given is frequently low, and the monthly payments, if any, may be interest only. Balloon […]
What is a Biweekly Mortgage? A Biweekly mortgage is a loan in which payments are made every two weeks instead of monthly. Payment options include monthly, semi-monthly, bi-weekly, weekly, accelerated bi-weekly, and accelerated weekly. The majority of biweekly payment plans are provided by third parties for a cost. While making biweekly payments will shorten […]
What is a Mortgage Bond? A mortgage bond is backed by a mortgage (or a group of mortgages) that is often backed by real estate assets and real property, such as equipment. Mortgage bonds are generally safer than corporate bonds and, as a result, offer a lower rate of return. Mortgage bond explained A mortgage-backed […]
What is a Bridge Loan? A bridge loan is a short-term loan intended to bridge the gap between permanent financing and the repayment of an existing debt. It provides rapid cash flow to the user, allowing them to satisfy current obligations. Bridge loans are short-term loans that last up to a year, with high interest […]
Buydown explained A buydown is a mortgage financing strategy in which the buyer tries to get a reduced interest rate for at least the first few years, if not the full term of the loan. During instance, a 2-1 buydown is a sort of mortgage buydown that allows homebuyers to save money on their interest […]
What is Capitalization Rate? The capitalization rate (or “cap rate”) is the most often used metric for evaluating the profitability and return potential of real estate investments. The cap rate essentially shows a property’s yield over a one-year time horizon, presuming the property was purchased with cash rather than a loan. The capitalization rate is […]
What is a Certificate of Eligibility (COE)? Certificates of Eligibility (COEs) are documents produced by theDepartment of Veterans Affairs (VA) to inform your VA loan lender thatyou meet the VA’s eligibility requirements for VA loans. As well asproviding your lender with information about your entitlement and fees,it also confirms your eligibility. As an entitlement, the […]
Certificate of Reasonable Value (CRV) explained A a Certificate of Reasonable Value (CRV) is issued by The Veterans Administration based on an authorised assessment. The authorised assessment sets a limit on the amount of money that may be borrowed with a VA loan. A certificate of fair value, for example, is received for a home […]
What is a Certificate of Title? A Certificate of Title is a legally binding document issued by a state or municipality that identifies the owner(s) of personal or real property. A certificate of title is a document that proves the owner’s right to possession. It usually refers to real land, although it might also […]
