|
| |
"Online Loans UK" FinanceLeadHouse offers you wide range of online & real easy...
Secured Loans UK, Unsecured Loans, Personal Loans UK, Tenants Loans, Students Loans, Marriage Loans, Debts Consolidations Loans, Home Improvement Loans, or Homeowner Loans, Holidays Loans, Property Loans & Short Terms Property Loans, Mortgage, Re-mortgage and Adverse ReMortgage Loans UK, Cheap Secured Loans, Fast Secured Loans and much more...
You get it all at a very cheap rate with Low rate of interest, Low APR, easy and tailor made repayment plans for your ease, with a very flexible repayment time period starting from a minimum of 1 Year to 25 Years. So apply for one now and consolidate your everyday piling debts.
And now for you to be able to understand what all Loan terms are commonly evolved into the market, we herewith bring to you an instant Loan Glossary online. |
FLH :: Online Loan Glossary |
|
|
|
|
Online Loan Glossary
Q
Qualifying
Ratio: The ratio of the borrower's fixed
monthly expenses to his gross monthly income. Ratios are
expressed as two numbers like 28/36 where 28 would be
the Front-End Ratio and 36 would be the Back-End Ratio.
The Front-End
Ratio is the percentage of a borrower's gross monthly
income (before income taxes) that would cover the cost
of PITI (Mortgage Principal Payment + Mortgage Interest
Payment + Property Taxes + Homeowners Insurance). In the
case of a 28% Front-End Ratio a borrower could qualify
if the proposed monthly PITI payments were 28% or less
than the borrower's gross monthly income.
The Back-End Ratio is the percentage of a borrower's gross monthly income
that would cover the cost of PITI plus any other monthly
debt payments like car of personal loans and credit card
debt.
Please note that
qualifying ratios are only a rough guideline in
determining a potential borrower's credit-worthiness.
Many factors such as excellent or poor credit history,
amount of down payment, and size of loan will influence
the decision to approve or disapprove a particular loan. |
Online Loan Glossary
R
Radon:
a radioactive gas found in some homes that, if occurring
in strong enough concentrations, can cause health
problems.
Real
estate agent: an individual who is licensed to
negotiate and arrange real estate sales; works for a
real estate broker.
REALTOR:
a real estate agent or broker who is a member
of the NATIONAL ASSOCIATION OF REALTORS, and its local
and state associations.
Refinancing: paying off one loan by obtaining
another; refinancing is generally done to secure better
loan terms (like a lower interest rate).
Rehabilitation mortgage: a mortgage that covers
the costs of rehabilitating (repairing or Improving) a
property; some rehabilitation mortgages - like the FHA's
203(k) - allow a borrower to roll the costs of
rehabilitation and home purchase into one mortgage loan.
RESPA:
Real Estate Settlement Procedures Act; a law protecting
consumers from abuses during the residential real estate
purchase and loan process by requiring lenders to
disclose all settlement costs, practices, and
relationships.
|
|
|
|
|
