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Kentucky Closing Costs
Kentucky

Last Updated on 01/28/2023 by Mark Verhoeven Closing Costs in Kentucky Closing expenses in Kentucky typically range between $3000 and $5000, or 2% to 5%

What are the interest rates on a VA loans?
Interest rate

Last Updated on 10/29/2022 by Mark Verhoeven What Is The Interest Rate On A VA Loan? Here are the interest rates for VA loans as

Mortgage Originator Definition
Mortgage originator

Last Updated on 11/28/2022 by Mark Verhoeven Mortgage Originator definition A mortgage originator is an institution or individual who works with a borrower to execute

Indemnity Definition
Indemnity insurance

Last Updated on 11/30/2022 by Mark Verhoeven Indemnity insurance explained Indemnity insurance is an insurance policy that compensates an insured party for certain unforeseen damages

Final Walkthrough Definition
Final walk-through

Last Updated on 11/30/2022 by Mark Verhoeven Final walk-through process The final walkthrough is done to demonstrate purchasers what condition the property may be expected

Utility Costs Definition
Utility cost

Last Updated on 11/30/2022 by Mark Verhoeven Utility costs explained The cost of using utilities such as power, water, waste disposal, heating, and sewage is

Lenders Mortgage Insurance Definition
Lenders mortgage insurance

Last Updated on 11/30/2022 by Mark Verhoeven Lenders mortgage insurance explained Lenders mortgage insurance (LMI) is a type of insurance that is paid to a

Mortgage Term Definition
Mortgage term

Last Updated on 11/30/2022 by Mark Verhoeven Mortgage term explained A Mortgage Term is a certain amount of time to repay the debt. In the

Real Property Definition
Real Property

Last Updated on 11/30/2022 by Mark Verhoeven Real property explained Real Property is a plot of land and everything permanently related to it. The owner

Closing costs Tennessee
Tennessee

Last Updated on 01/28/2023 by Mark Verhoeven What are the Closing Costs in Tennessee? Closing costs in Tennessee are expected to range from $3000 to

Housing expenses-to-income Ratio
Housing expenses-to-income ratio

Last Updated on 11/30/2022 by Mark Verhoeven   Housing expenses-to-income ratio explained Housing Expenses to Income Ratio is a relationship of  house and living  expenses 

Ginnie Mae Security Definition
Ginnie Mae

Last Updated on 11/30/2022 by Mark Verhoeven   Ginnie mae explained The government-sponsored credit organisations Ginnie Mae, Fannie Mae, and Freddie Mac all operate in

Foreclosure Definition
Foreclosure

Last Updated on 11/30/2022 by Mark Verhoeven Foreclosure explained The legal procedure through which a lender seeks to recoup the amount owing on a defaulted

Principal interest taxes insurance piti Definition
PITI

Last Updated on 11/30/2022 by Mark Verhoeven PITI (Principal, Interest, Taxes, Insurance) The following article will cover all aspects of PITI including: What is PITI,

Due on sale Clause Definition
Due on sale clause

Last Updated on 11/30/2022 by Mark Verhoeven Due-on-sale clause explained A due-on-sale clause is a condition in a mortgage contract that compels the borrower to

Covenant Definition
Covenant

Last Updated on 11/30/2022 by Mark Verhoeven Covenant explained A covenant, in legal and financial terms, is a commitment made in an indenture or other

Attorneys Fee Definition
Attorney fee

Last Updated on 01/18/2023 by Mark Verhoeven What are Attorney fees? Attorney’s fee is a word used mostly in the United States to describe the

Cloud on Title Definition
Cloud on title

Last Updated on 11/30/2022 by Mark Verhoeven Cloud on title explained Cloud on Title is any document, claim, unreleased lien, or encumbrance that might invalidate

Buydown Definition
Buydown

Last Updated on 11/30/2022 by Mark Verhoeven Buydown explained A buydown is a mortgage financing strategy in which the buyer tries to get a reduced

Balance Sheet Definition
Balance sheet

Last Updated on 11/30/2022 by Mark Verhoeven Balance sheet explained A balance sheet is a financial statement that shows the assets, liabilities, and shareholder equity

Florida VA loan
Florida VA loan

Last Updated on 12/07/2022 by Mark Verhoeven Best VA Loan in Florida A VA loan in Florida is a mortgage loan made possible by the

Variable Rate Mortgage (VRM) Definition
Variable rate mortgage

Last Updated on 11/30/2022 by Mark Verhoeven Variable Rate Mortgage (VRM) The following article will cover all aspects of a Variable Rate Mortgage including: What

Property Title Search Definition
Property title search

Last Updated on 11/30/2022 by Mark Verhoeven Property Title Search The following article will cover all aspects of a Property Title Search including: What is

Freddie Mac Definition
Freddie Mac

Last Updated on 11/30/2022 by Mark Verhoeven Freddie mac explained The Federal Home Loan Mortgage Corp. (FHLMC) is a stockholder-owned government-sponsored company (GSE) established by

Title Insurance Definition
Title insurance

Last Updated on 11/30/2022 by Mark Verhoeven Title Insurance The following article will cover all aspects of Title Insurance including: What is Title Insurance, How

Open-End Mortgage Definition
Open-end mortgage

Last Updated on 11/30/2022 by Mark Verhoeven Open-end mortgage The following article will cover all aspects of an Open-End Mortgage including: What is an Open-End

Line of Credit Definition
Line of credit

Last Updated on 11/30/2022 by Mark Verhoeven Line of credit explained A line of credit (LOC) is a set amount of money that may be

Prepayment Penalty Definition
Prepayment penalty

Last Updated on 11/30/2022 by Mark Verhoeven Prepayment penalty The following article will cover all aspects of a Prepayment Penalty including: What is a Prepayment

Principal Definition
Principal

Last Updated on 11/30/2022 by Mark Verhoeven Principal The following article will cover all aspects of Principal including: What is Principal, How does Principal work,

Recording Fee Definition
Recording fee

Last Updated on 11/30/2022 by Mark Verhoeven Recording fee The following article will cover all aspects of a Recording Fee including: What is a Recording

Transfer Tax Definition
Transfer tax

Last Updated on 01/18/2023 by Mark Verhoeven Transfer Tax The following article will cover all aspects of  a Transfer Tax including: What is a Transfer

Underwriter Definition
Underwriter

Last Updated on 11/30/2022 by Mark Verhoeven Underwriters The following article will cover all aspects of Underwriters including: What is an Underwriter, How does Underwriting

Personal Finance Definition
Personal finance

Last Updated on 11/30/2022 by Mark Verhoeven Personal finance The following article will cover all aspects of Personal Finance including: What is Personal Finance, How

Second Mortgage Definition
Second mortgage

Last Updated on 11/30/2022 by Mark Verhoeven Second Mortgage The following article will cover all aspects of a Second Mortgage including: What is a Second

Right of First Refusal Definition
Right of first refusal

Last Updated on 11/30/2022 by Mark Verhoeven Right of first refusal The following article will cover all aspects of Right of First Refusal including: What

Truth In Lending Act Definition
Truth in lending act

Last Updated on 11/30/2022 by Mark Verhoeven Truth In Lending Act The following article will cover all aspects of the Truth In Lending Act including:

Leasehold Definition
Leasehold

Last Updated on 11/30/2022 by Mark Verhoeven Leasehold explained A leasehold estate is the possession of a transitory right to hold land or property in

Uniform Settlement Statement Definition
Uniform settlement statement

Last Updated on 11/30/2022 by Mark Verhoeven Uniform settlement statement The following article will cover all aspects of a Uniform Settlement Statement (HUD-1) including: What

Right of Rescission Definition
Right of rescission

Last Updated on 11/29/2022 by Mark Verhoeven Right of Rescission The following article will cover all aspects of the Right of Rescission including: What is

What are closing costs in Alabama
Alabama

Last Updated on 01/28/2023 by Mark Verhoeven What are the Closing Costs in Alabama? Closing costs in Alabama are expected to range from $3000 to

Warranty Deed Definition
Warranty deed

Last Updated on 11/29/2022 by Mark Verhoeven Warranty Deeds The following article will cover all aspects of a Warranty Deed, including: What is a Warranty

Rollover Mortgage Definition
Rollover mortgage

Last Updated on 11/29/2022 by Mark Verhoeven Rollover Mortgage The following article will cover all aspects of Rollover Mortgages including: What is a Rollover Mortgage,

What is a Tax Deed?
Tax deed

Last Updated on 11/29/2022 by Mark Verhoeven What is a Tax Deed? The term tax deed refers to a legal document granting ownership of a

What Is RESPA?
RESPA

Last Updated on 11/29/2022 by Mark Verhoeven What Is the Real Estate Settlement Procedures Act (RESPA)? The Real Estate Settlement Procedures Act (RESPA) was passed

What is the Secondary Mortgage Market?
Secondary mortgage market

Last Updated on 11/29/2022 by Mark Verhoeven What Is the Secondary Mortgage Market? The secondary mortgage market is a marketplace where lenders and investors buy

What is the Rural Housing Service?
Rural housing service

Last Updated on 11/29/2022 by Mark Verhoeven What is the Rural Housing Service? The Rural Housing Service (RHS) of the United States Department of Agriculture

Reverse Mortgages and Annuity
Reverse mortgages

Last Updated on 11/29/2022 by Mark Verhoeven What are Reverse Mortgages and Annuity? Although reverse mortgages and annuities are two quite distinct financial products, they

What does Proration mean?
Proration

Last Updated on 11/29/2022 by Mark Verhoeven What does Proration mean? At closing, prorations are credits given to both the buyer and the seller. They