Transfer Tax: State and local taxes that need to be paid when a title is transferred to a new owner.
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Settlement Sheet loans mortgage terminology definition
Settlement Sheet: A document that lists all of the details of the sale of the home. A real estate agent will normally go over this document with the buyer and seller and explain the fees or costs, including previous years’ property taxes, points, insuranc
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Property Taxes loans mortgage terminology definition
Property Taxes: The amount of money you pay to the local government depending on the assessed value of your home and the local cost of levies and tax rates. This payment may be part of your mortgage payments.
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PITI- Principal, Interest, Taxes, and Insurance loans mortgage terminology definition
PITI- Principal, Interest, Taxes, and Insurance: These are the four monthly costs that are combined into a mortgage payment. Some mortgage loan agreements do not include these additional housing costs, so make sure you know what your monthly mortgage paym
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Assessed Value or Assessment loans mortgage terminology definition
Assessed Value or Assessment: The value a property given by a tax assessor in order to determine the cost of property taxes for that parcel.
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According to Value loans mortgage terminology definition
According to Value: Refers to the value of your home and property upon which your property taxes are based on. Also called “Ad Valorem.”
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Introduction to Refinancing Home – video clips tips
Introduction to Refinancing Home Tips in the past to handle difficult financial time For food Grow a Garden Continue reading “Introduction to Refinancing Home – video clips tips”
Introduction to Loans – video clips tips
Introduction to Loans Quick Financial tips Invest Continue reading “Introduction to Loans – video clips tips”