by Myers Jackson | Dec 31, 2024 | Auction News
Loan-To-Value (LTV) Ratio The relationship between the loan amount and the value of the property (the lower of appraised value or sales price), expressed as a percentage of the property’s value. For example, a $100,000 home with an $80,000 mortgage has an LTV of 80...
by Myers Jackson | Dec 31, 2024 | Auction News
Closing COSTS The upfront fees charged in connection with a mortgage loan transaction. Money paid by a buyer (and/or seller or other third party, if applicable) to effect the closing of a mortgage loan, generally including, but not limited to a loan origination fee,...
by Myers Jackson | Dec 31, 2024 | Auction News
Loan Origination Fees Fees paid to your mortgage lender or broker for processing the mortgage application. This fee is usually in the form of points. One point equals one percent of the mortgage amount. Real estate words and definition CLICK THIS BUTTON For...
by Myers Jackson | Dec 31, 2024 | Auction News
Loan Origination The process by which a loan is made, which may include taking a loan application, processing and underwriting the application, and closing the loan. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to...
by Myers Jackson | Dec 31, 2024 | Auction News
Liquid Asset A cash asset or an asset that is easily converted into cash. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS BUTTON For all active auctions, and properties for sale CLICK...
