{"id":62,"date":"2010-04-01T13:11:18","date_gmt":"2010-04-01T13:11:18","guid":{"rendered":"http:\/\/www.ireadysites.com\/blog\/?p=62"},"modified":"2010-04-01T13:31:54","modified_gmt":"2010-04-01T13:31:54","slug":"common-mortgage-terms","status":"publish","type":"post","link":"https:\/\/ireadysites.com\/blog\/common-mortgage-terms\/","title":{"rendered":"Common Mortgage Terms"},"content":{"rendered":"<ul>\n<li><span style=\"text-decoration: underline;\">Advance<\/span>: This is the money you have borrowed plus all the  additional fees.<\/li>\n<li><span style=\"text-decoration: underline;\">Base Rate<\/span>: In the United States, this value is set by  the Federal Reserve and is known as the Discount Rate or the Prime Rate.<\/li>\n<li><span style=\"text-decoration: underline;\">Bridging Loan<\/span>: This is a temporary loan that enables the  borrower to purchase a new property before the borrower is able to sell  another current property.<\/li>\n<li><span style=\"text-decoration: underline;\">Disbursements<\/span>: These are all the fees of the solicitors  and governments, such as stamp duty, land registry, search fees, etc.<\/li>\n<li><span style=\"text-decoration: underline;\">Pre-approval<\/span>:  A loan officer has pulled credit from the  borrower, matched them up with a loan, and can guarantee funding for  purchase.<\/li>\n<li><span style=\"text-decoration: underline;\">Pre-Payment Penalty \/ Redemption Penalty<\/span>: This is the  amount of money due if the mortgage is paid in full before the time  finished.<\/li>\n<li><span style=\"text-decoration: underline;\">Pre-qualification<\/span>: A loan officer has taken some  information from the borrower, and made a tentative decision, but not  verified any of it.<\/li>\n<li><span style=\"text-decoration: underline;\">Equity<\/span>: This is the market value of the property minus  all loans outstanding on it.<\/li>\n<li><span style=\"text-decoration: underline;\">First time buyer<\/span>: This is the term given to a person  buying property for the first time.<\/li>\n<li><span style=\"text-decoration: underline;\">Loan Origination Fee<\/span>: A charge levied by a creditor for  underwriting a loan. The fee often is expressed in points. A point is 1  percent of the loan amount.<\/li>\n<li><span style=\"text-decoration: underline;\">Sealing Fee<\/span>: This is a fee made when the lender releases  the legal charge over the property.<\/li>\n<li><span style=\"text-decoration: underline;\">Subject To Contract<\/span>: This is an agreement between seller  and buyer before the actual contract is made.<\/li>\n<li><span style=\"text-decoration: underline;\">Balloon loans<\/span>: after a series of low payments for a  fixed period of time, then the entire loan balance is due in a large  lump sum.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Advance: This is the money you have borrowed plus all the additional fees. Base Rate: In the United States, this value is set by the Federal Reserve and is known as the Discount Rate or the Prime Rate. Bridging Loan: This is a temporary loan that enables the borrower to purchase a new property before [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-62","post","type-post","status-publish","format-standard","hentry","category-knowledgebase"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ireadysites.com\/blog\/wp-json\/wp\/v2\/posts\/62","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ireadysites.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ireadysites.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ireadysites.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ireadysites.com\/blog\/wp-json\/wp\/v2\/comments?post=62"}],"version-history":[{"count":3,"href":"https:\/\/ireadysites.com\/blog\/wp-json\/wp\/v2\/posts\/62\/revisions"}],"predecessor-version":[{"id":64,"href":"https:\/\/ireadysites.com\/blog\/wp-json\/wp\/v2\/posts\/62\/revisions\/64"}],"wp:attachment":[{"href":"https:\/\/ireadysites.com\/blog\/wp-json\/wp\/v2\/media?parent=62"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ireadysites.com\/blog\/wp-json\/wp\/v2\/categories?post=62"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ireadysites.com\/blog\/wp-json\/wp\/v2\/tags?post=62"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}