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  2. Good faith estimate - Wikipedia

    en.wikipedia.org/wiki/Good_faith_estimate

    A complete loan application include at least the following: Name, Income, Social Security Number, Property Address, Estimated Value of Property, Mortgage Loan Amount Sought. When these are received, TRID is considered to be triggered and the three-day clock starts.

  3. Mortgage interest deduction: What it is and what qualifies - AOL

    www.aol.com/finance/mortgage-interest-deduction...

    In other words, if you and your spouse have a $500,000 mortgage and a $100,000 home equity loan, taken out in 2018 and 2021 respectively, you have $600,000 in total debt and are $160,000 short of ...

  4. What is a mortgage? A definitive guide for aspiring homeowners

    www.aol.com/finance/mortgage-definitive-guide...

    When you get a mortgage, you have a set loan term to repay the debt as well as a total loan amount to repay. The majority of your monthly payment will be comprised of interest and principal, also ...

  5. Reverse mortgage - Wikipedia

    en.wikipedia.org/wiki/Reverse_mortgage

    A reverse mortgage is a mortgage loan, usually secured by a residential property, that enables the borrower to access the unencumbered value of the property. The loans are typically promoted to older homeowners and typically do not require monthly mortgage payments. Borrowers are still responsible for property taxes or homeowner's insurance ...

  6. Mortgage-backed security - Wikipedia

    en.wikipedia.org/wiki/Mortgage-backed_security

    A mortgage-backed security (MBS) is a type of asset-backed security (an "instrument") which is secured by a mortgage or collection of mortgages. The mortgages are aggregated and sold to a group of individuals (a government agency or investment bank) that securitizes, or packages, the loans together into a security that investors can buy.

  7. VA loan - Wikipedia

    en.wikipedia.org/wiki/VA_loan

    In a refinance where the loan is a VA loan refinancing to VA loan (IRRRL Refinance), the veteran may borrow up to 100.5% of the total loan amount. The additional .5% is the funding fee for a VA Interest Rate Reduction Refinance. VA loans allow veterans to qualify for loan amounts larger than traditional Fannie Mae / conforming loans

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