You’re buying a home. Well picture this… you are sitting down at a loan officer desk and they tell you that if you want to purchase a home your LTV must be 96.50% and your D/P must be 3.5% your Rate is 5.00% and your APR is 5.752% w/ PT’s of 1.00% and a Loan origination fee of 1.00%. With all of that your PITIMI (piti-me) payment will be 1,100.00 per month in Greenfield California 93927.
Do you understand anything that was just said? Maybe a few of you do but for most of us that aren’t in lending this can be a big jumble of acronyms and abbreviations that don’t make a bit of sense. So here it is… the down low on the top 5 most used lending terms.
1. PITIMI (piti-me) payment – This is your total combined mortgage payment. Principal, Interest, Taxes, Insurance, & Mortgage Insurance
2. MI – Mortgage Insurance in Greenfield California 93927 – Contrary to belief this is not your Home Owners Insurance. Mortgage Insurance is an insurance payment that you pay for your lender. It allows for banks to give out loans to people with a smaller amount of down payment and the customer pays the insurance to cover their risk for the loan. If someone defaults on their loan and the lender has to sell the property then the insurance will cover any gap in the amount that the collect.
3. H/O – Home Owners Insurance. This is your insurance policy. The insurance that you chose to cover your home against disasters, fire, and theft to be able to get you your money back if something happens to your property or your possessions inside.
4. LTV – Loan- To-Value. This is the percentage that is calculated from the amount that your loan is to the value of the home. IF your home is worth 100K and your loan is 80K then your LTV is 80%
5. APR – Annual Percentage Rate – this is not the rate that your payment is calculated on. Your mortgage payment will always be calculated based on the Interest Rate. You’re APR is what banks use to portray the true cost of your loan. If you have a bunch of fees associated with your loan then your APR will generally be a lot higher then the interest rate, if you don’t have very many fees to pay then your APR will be closer to the interest rate on your loan. When you compare loan products it is best that you compare your APR instead of the Interest Rate in Greenfield California 93927.
Surrounding Areas In California
Video: Mortgages in Greenfield CA
Find 29 listings related to Mortgages in Greenfield on YP.com. See reviews, photos, directions, phone numbers and more for the best Mortgages in Greenfield, CA.
It pays to shop around for mortgage rates in Greenfield, CA. Get free mortgage quotes from multiple lenders to find a competitive rate for your home loan.
Compare mortgage rates in Greenfield, CA to find the best mortgage rate for your financing needs. Home loan interest rates in Greenfield, CA for new homes ...
Local mortgage rates. Did you know that mortgage rates can change daily and they can vary by location? Use Zillow to keep up with current mortgage rates in Greenfield ...
See today's Greenfield mortgage rates and get personalized home loan quotes from Greenfield California mortgage lenders.
Find individual business listings for businesses located within the city of Greenfield in California. All Mortgages listings in Greenfield, ca. YellowPagesGoesGreen ...
Current mortgage rates and quotes from multiple lenders in Greenfield, CA
9 mortgage brokers in Greenfield, CA have completed 56 mortgages. Mortgage value range $69,600-$279,200. Find the best Greenfield, CA mortgage brokers on Inzopa.
Seach and compare mortgage rates and refinance rates in Greenfield, CA. MonitorBankRates.com has a list of Greenfield, CA mortgage rates and mortgage refinance
Mortgages and home loans in Greenfield CA. Find a mortgage, find a home loan or refinance a current loan with mortgage lenders in Greenfield CA.