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Low start mortgage |
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Low start mortgageThis is like a repayment mortgage, but with a difference. In the introductory period, only interest is paid back to the lender and not any of the capital outstanding. After this period, the repayments start in earnest. The total amount of interest and repayments over the life of the year are higher than with a normal repayment mortgage, but this sacrifice can be worth it if you need to severely restrict your outgoings during the low start period.Low start mortgage Similar MatchesWraparound mortgageWraparound mortgageA loan to a buyer for the remaining balance on a seller's first mortgage and an additional amount requested by the seller. Payments on both loans are made to the lender who holds the wraparound loan. Mortgage code arbitration schemeMortgage code arbitration schemeAn arbitration service between members of the public and lenders. Equity linked mortgageEquity linked mortgageThe lender takes ownership of a stake in the equity of the property. This means that they lend you less than the full amount that is required to buy the home. Interest is only charged on the amount that they lend you and not on the full value of the property. When you sell the property, the lender receives payment in proportion to the amount of equity that they own, and therefore benefits from any increase in the price of the property. Gnma (government National Mortgage Association) OptionsGnma (government National Mortgage Association) OptionsA method of purchasing GNMA securities through "puts" and calls." A GNMA Call Option is the right to buy GNMA securities at a specific yield for a specified time, A Put Option is the right to sell GNMA securities at a specific yield for a specified time. The buyer pays for the option and may exercise it, not exercise it, or sell it. Wholesale mortgage bankingWholesale mortgage bankingThe purchasing of loans originated by others, for the acquisition of the servicing rights. Further SuggestionsForeign currency mortgageWrap Around Mortgage Insured Mortgage Lehman Brothers Adjustable Rate Mortgage Index Chattel Mortgage Mortgage Owner Will Carry Mortgage biweekly mortgage loan Self build mortgage Alternative mortgage instruments Freddie Mac (Federal Home Loan Mortgage Corporation) Mortgage pipeline risk Mortgage Banker Shared Appreciation Mortgage (SAM) H Hard Money Mortgage second mortgage Joint mortgage Mortgage Company Mortgage arrears Portable mortgage Mortgage term Package mortgage First mortgage Mortgage duration commercial mortgage |
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