If you live in the following states and would like to get a 50 year mortgage you should contact our 50 year mortgage specialist as soon as possible:
50 yr mortgages for:
Alabama
Montana
Alaska
Nebraska
Arizona
Nevada
Arkansas
New Hampshire
California
New Jersey
Colorado
New Mexico
Connecticut
New York
DC
North Carolina
Delaware
North Dakota
Florida
Ohio
Georgia
Oklahoma
Hawaii
Oregon
Idaho
Pennsylvania
Illinois
Rhode Island
Indiana
South Carolina
Iowa
South Dakota
Kansas
Tennessee
Kentucky
Texas
Louisiana
Utah
Maine
Vermont
Maryland
Virginia
Mass
Washington
Michigan
West Virginia
Minnesota
Wisconsin
Mississippi
Wyoming
Missouri
Mortgage Terms Dictionary
Accrued Interest
Interest that is due, on a bond for example, but that hasn’t
yet been paid.
Borrower
Any person who consults with or retains a mortgage broker or loan originator
in an effort to obtain or seek advice or information on obtaining or
applying to obtain a mortgage loan.
Collateral
Property, which is pledged as security for a debt. In the case of a mortgage,
the collateral would be the land, the house, and other buildings and improvements.
Deed of Trust or Mortgage
A legal document in which the borrower conveys the title to a 3rd party (trustee)
to hold as security for the lender.
Lock-in Agreement
An agreement with a borrower made by a mortgage broker or loan originator, in
which the mortgage broker or loan originator agrees that, for a period of
time, a specific interest rate or other financing terms will be the rate
or terms upon which it will make a loan available to the borrower.
Mortgage Broker
Any person that for compensation or gain, or in the expectation of compensation
or gain: Makes a residential mortgage loan or assists a person in obtaining
a residential mortgage loan; or holds himself or herself out as being able
to do so.
Residential
Mortgage Loan
Any loan primarily for personal, family, or household use secured by a mortgage
or deed of trust on residential real estate upon which is constructed or intended
to be constructed a single family dwelling or multiple family dwelling of four
or less units.
Truth In Lending Disclosure
A legally required document that shows the loan amount, interest rate, required
payments, and total amount of interest that will be paid over the life of
the loan.
A mortgage loan that lets borrowers pay even less than the interest.
As a results of these other types of loans you may
have a negative amortization. A borrower might not build any equity
and could end up owing more.
The information provided on 50-Year Mortgage, Inc. is not intended to be official legal, real estate, or
financial advice but merely conveys general information. Sitemap
