Understand the most important lending and mortgage terms. Mortgages can be confusing for the first time home buyer, so let us help explain. Below you'll find explanations for most of the mortgage industry terms.

What is Qualifying rate? Adjustable-rate mortgages often employ a "qualifying fate" that differs from the "start rate." The qualifying rate may be a pre-determined percentage of interest (i.e. "8 percent"), expressed as the…
Written by Henry Gilbert
What is Qualifying ratio? A comparison of a borrower's expenses (housing or total debt) to his…
Written by Henry Gilbert
What is Qualifying Ratios? Calculations used to determine if a borrower can qualify for a mortgage. They consist of two separate calculations: a housing expense as a percent of income ratio and total debt obligations as a…
Written by Henry Gilbert


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