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Mortgage Glossary

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Yield Spread Premium (YSP)

June 27, 2009

Yield Spread Premium is the most expensive mortgage pitfall you’ll encounter when refinancing your home. Here’s how to avoid paying too much.

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Mortgage Annual Percentage Rate

February 18, 2009

Are you in the market to refinance your existing mortgage loan? Do you find terms like APR, Mortgage Rate, and Points confusing and misleading? You’re not alone…most homeowners never fully understand what the Annual Percentage Rate is or how points affect their mortgage rate and closing costs. Here are several tips to help demystify mortgage [...]

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Par Mortgage Rates Definition

January 1, 2009

If you are considering refinancing your existing home mortgage loan a par mortgage rate could save you thousands of dollars every year that you have the mortgage. The problem is that all of the mortgage rate quotes you see online and from your local mortgage companies include some markup to create a commission for the [...]

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Wholesale Mortgage Lenders

December 28, 2008

If you’re considering refinancing your home mortgage loan in 2009 and are looking for a wholesale lender there are several things you need to know in order to take advantage of wholesale rates. As a member of the public you cannot simply contact a wholesale lender expecting to refinance your home mortgage with a wholesale [...]

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Mortgage Refinancing and Your Loan to Value Ratio (LTV)

December 18, 2008

If you are considering mortgage refinancing, understating loan-to-value ratio could make the process less painful for you. Many homeowners glaze over at the “technical terminology” associated with mortgage loans like loan-to-value ratio and yield spread premium. If you are such a homeowner here are the basics you need to know about loan-to-value when refinancing your [...]

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