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 New London New Hampshire 03257.
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 New London New Hampshire 03257 – 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 New London New Hampshire 03257.
Surrounding Areas In New Hampshire
New London Information
Video: Mortgages in New London NH
Zillow has 12,997 homes for sale in New Hampshire. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place.
New Hampshire Birth Certificates, Death Records, Marriage Licenses and more
Homes, real estate, condos and adult community in New Hampshire. Southern NH and the Lakes Regions. Free easy access to the complete New Hampshire MLS. Bean Group
New Hampshire is a traditional New England state with a rich history and cultural heritage that is reflected in the variety of architectural styles seen within that ...
Acworth, NH Albany, NH Alexandria, NH Allenstown, NH Alstead, NH Alton, NH Amherst, NH Andover, NH Antrim, NH Ashland, NH Atkinson, NH Auburn, NH Barnstead, NH
Compiled from New Hampshire MLS listings and regional databases of Merrimack, NH homes for rent: 4 total rental listings, 2 apartments for rent, and 0 condos for rent ...
Why use Zillow? Zillow helps you find the newest Manchester real estate listings. By analyzing information on thousands of single family homes for sale in Manchester ...
NETR Online • New Hampshire Public Records, Search New Hampshire Records, New Hampshire Property Tax, New Hampshire Property Search, New Hampshire Assessor
New Hampshire Housing promotes, finances, and supports affordable housing for Granite State residents. The agency offers safe, fixed rate mortgages; rental assistance ...
Manchester, New Hampshire detailed profile ... Latest news from Manchester, NH collected exclusively by city-data.com from local newspapers, TV, and radio stations