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Take back mortgage |
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Take back mortgageA loan made directly from the seller to the buyer.Take back mortgage Similar MatchesFederal Home Loan Mortgage Corporation (FHLMC)Federal Home Loan Mortgage Corporation (FHLMC)See: Freddie Mac Shared appreciation mortgageShared appreciation mortgageA mortgage in which a borrower pays a below normal rate of interest to the lender on the understanding that the latter shares a proportion of the appreciation of the property. Lehman Brothers Adjustable Rate Mortgage IndexLehman Brothers Adjustable Rate Mortgage IndexA benchmark index that includes all agency-guaranteed securities with coupons that periodically adjust based on a spread over a published index. Mortgage application feeMortgage application feeA charge purely for applying for a mortgage. Paid to the lender upfront at the time of application it is usually between £100 and £300.This type of fee is becoming less common than an arrangement fee. As with arrangement fees, this type of mortgage fee is usually found with the special deals from lenders possibly to restrict the number of applicants by only attracting serious buyers. Some of the time this fee is refunded on completion of the mortgage. Flexible mortgageFlexible mortgageA mortgage that allows borrowers to make overpayments when they have spare cash, and reduce or miss payments altogether when times are tight. Often useful for self-employed people whose income varies from one month to the next. The most flexible form of mortgage is a Current Account Mortgage (CAM), which can potentially save you money by linking your current account and mortgage together. Further SuggestionsMortgage termWraparound mortgage base rate tracker mortgage Graduated Payment Mortgage Chattel Mortgage Collateralized mortgage obligation (CMO) Mortgage Servicing Variable rate mortgages Cap & collar mortgage Veterans Administration (VA) mortgage First mortgage Open End Mortgage Federal National Mortgage Association first mortgage Mortgage Bonds variable rate mortgage Mortgage interest deduction Mortgage reference fee Shared Appreciation Mortgage (SAM) Mortgagee graduated payment mortgage Strip mortgage participation certificate (strip PC) Portable mortgage Mortgage pipeline risk Purchase money mortgage |
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