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 Wisner Nebraska 68791.
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 Wisner Nebraska 68791 – 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 Wisner Nebraska 68791.
Surrounding Areas In Nebraska
Video: Mortgages in Wisner NE
According to our research of Nebraska and other state lists there were 3 registered sex offenders living in Wisner, Nebraska as of November 18, 2017. The ratio of ...
Dealing with Debt. Learn about common debt problems, including filing for bankruptcy.
According to our research of Kansas and other state lists there was 1 registered sex offender living in Arlington, Kansas as of November 17, 2017. The ratio of number ...
It's silly to have to duplicate the work of others! The Land Record Research Directory shows you who is doing LAND RECORD work in various parts of the country.
Benefits Enrollment for 2018 is Closed. Click an icon above to find more information for your benefits program. New Electronic Freeze Form (Norman Programs)
9780160805660 016080566X Food and Drugs - Part 170 to 199, Office of the Federal Register 602517780507 0602517780507 Superhero Brother, G Love And Special Sauce
Express Helpline- Get answer of your question fast from real experts.
KOMBE Seme Maria Luisa Genito Apice Maria Luisa BERNAMA COWGIRLS ENSLINGER TOTH MORMANN VAZGUEZ DEGEORGE CONFUSING Vittorio Emanuele, 104 84010 089/853218 ...
the 3638323 to 1605548 a 1450464 of 1443430 and 1443154 in 1270287 for 640884 on 508384 that 503295 is 492114 said 487809 was 434749 with 423779 at 408185