General

Definition:A quick close refers to the accelerated process of finalizing a real estate transaction, where the buyer and seller agree to complete the sale in

Definition: An equity take-out refers to the process of borrowing against the equity in your home, allowing homeowners to access a portion of their property’s

Definition: A discretionary rate is a specially discounted mortgage rate that a lender may offer to select borrowers, typically based on factors like negotiation, the

After a mortgage closes, a lender will either hold that mortgage in its portfolio or sell it to investors. If the mortgage is sold, the

Definition: The effective rate is the actual interest rate a borrower pays on a mortgage after accounting for compounding within the year. Unlike the nominal

Flow insurance is another name for mortgage default insurance. It’s a type of insurance that protects lenders and investors from borrowers who default. The cost of

Definition:Trailer fees and renewal fees are two types of charges that may apply to certain financial products, particularly in the context of investment products and

Definition: The contract rate is the interest rate specified in a mortgage agreement between the borrower and the lender. This rate determines the initial monthly

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