Mortgage Dictionary

A B C D E F G H I J K L M N O P Q R S T U V W

FAQ

MORTGAGE DICTIONARY

HOMEBUYER'S GUIDE

REFINANCE GUIDE

HOMEPATH AND HOMESTYLE LOANS

EDUCATIONAL RESOURCES

Why Sky Real Estate 

You need mortgage professionals you can trust. You need a company that values honesty and integrity throughout the entire organization. You need mortgage planning specialists who give you their best consistently. You need to find strength, stability and opportunity—especially now. You need Grand Avenue Realty & Lendings!

When dealing with your home financing, we are not only working with one of your largest personal financial investments; we also are handling one of your biggest dreams. Since we work with matters so close to the heart, we serve you from ours.

Grand Avenue Realty & Lending can meet you where you are and help you where you are going. Let us provide you a mortgage without obstacles.

M

MARGIN

For an adjustable-rate mortgage (ARM), the amount that is added to the index to determine the interest rate on each adjustment date, as stated in the note.

MARKET VALUE

The lowest price a seller would accept and the highest price that a buyer would pay on a property. The price a property could be sold for at a given time could differ from the market value.

MORTGAGE

A voluntary lien filed against a property to secure a debt, usually a loan.

MORTGAGE BANKER

A company that originates and services mortgages exclusively for resale in the secondary mortgage market (to other lenders and investors). Certain mortgage bankers are subsidiaries of depository institutions or their holding companies but do not receive money from individual depositors.

MORTGAGE BROKER

An independent professional or company that brings together borrowers and lenders for loan origination purposes, both in residential and commercial circumstances. Mortgage brokers typically charge a fee or require a commission for their services.

MORTGAGE INSURANCE (MI)

Insurance that protects lenders against losses caused by a borrower’s default on a mortgage loan. MI typically is required if the borrower’s down payment is less than 20% of the purchase price.

MORTGAGE INSURANCE PREMIUM (MIP)

Insurance provided to the lender from the Federal Housing Administration (FHA) to cover an instance of the borrower defaulting on the mortgage. Borrowers pay one-half percent each month on FHA insured mortgage loans.

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Skyh Inc. - A true Full-Service Brokerage   

NMLS 1615282   BRE: 00827316

10129 E. Rosecrans Ave. 

Bellflower, CA. 90706

855-TeamSky  

855-832-6759