Real Estate

What does a mortgage lender mean? A mortgage lender is an entity that lends mortgages to borrowers and receives an interest in return, according to […]

What is mortgage insurance? Mortgage insurance is insurance paid by borrowers to protect their lenders, according to the Consumer Financial Protection Bureau (CFPB). This insurance

What are mortgage fees? Mortgage fees are a combination of all fees associated with getting a mortgage loan. After receiving a mortgage application from a

What is a mortgage broker? A mortgage broker is a middle-man between borrowers and lenders. The main job of mortgage brokers is to facilitate the

What is the meaning of months of supply? Months of supply is a number that measures how long it will take the current inventory of

What does median mean? A median is a statistical value that is equal to the middle value of an ordered set. In real estate, medians

What does loss mitigation mean? Loss mitigation is the process that involves the borrower and the moneylender in an effort to avoid foreclosure. This process

What is a loan-to-value ratio? A loan-to-value ratio is a ratio between the borrowed money to the appraised value of the property, according to Redfin.

What is the loan estimate? A loan estimate is a three page form the borrower receives from the lender after applying for a mortgage, according

What is a loan commitment letter? A loan commitment letter a.k.a mortgage approval letter is an agreement letter that contains the lender’s promise to provide