Sentences with phrase «principal of the mortgage»

Fees may cost up to 3 - 6 % of the outstanding principal of the mortgage.

An example would be mortgage insurance, where the death benefit will drop and will always generally correspond with the remaining principal of the mortgage.

Third, the entire mortgage premium in Canada is due upfront and typically rolled into the principal of the mortgage, meaning homeowners must pay interest on their premiums.

Because insurance is typically rolled into the principal of a mortgage, Sears figures people don't even notice they are paying it.

Homeowners can then apply the extra savings back towards the principal of the mortgage loan, ultimately paying off their mortgage even faster.

Guess what, I knew that 5 years later, when the principal kicked in, we were not going to able to pay the principal of that mortgage because unless we hit the lotto our pay was not to increase that much in 5 years.

The only way for the mortgage holder to «default» was for the principal of the mortgage to reach a certain, predetermined level, but this was avoidable under certain conditions — as long as home prices were rising like they were in the years leading up to the GFC, homeowners could refinance and avoid defaulting.

The principal of the mortgage is the sum total of the amount you borrowed to purchase the home.

Some strategies to consider include opting for a shorter amortization (25 years, say, instead of 30 years), doubling up your mortgage payments, putting an extra 10 % down on the principal of the mortgage every year, or getting a good mortgage broker to negotiate a better rate.

The prepayment is applied directly to the principal of your mortgage.

b) Your coverage decreases at the same rate you pay off the principal of your mortgage, so you are receiving a lower benefit for the same amount of premium.

This mortgage loan option serves a positive purpose as the principal of the mortgage can be regained by the lenders at a more opportune time in the future, while repayment pressures on the borrower are lessened.

Discount Point: One percentage point of the principal of a mortgage loan that some lenders require borrowers to pay immediately as a condition of making the loan.

This way, you can put a few hundred extra dollars down on the principal of your mortgage every year.

Any funds in excess of the approved mortgage amount, closing costs and cash back to the homebuyer shall be used as a credit to reduce the principal of the mortgage or as a credit toward the household's monthly payments on the mortgage loan.

Some lenders are willing to recast (reset) your monthly payment when you make large payments toward the principal of your mortgage.

We wanted the ability to put lump - sum payments against the principal of the mortgage because we take our tax refund every year and apply it to the mortgage.

A reasonable mortgage restructuring might be to cut the principal of the mortgage to $ 200,000, and to create a $ 100,000 property appreciation right.

Still, this doesn't mean you'll immediately see more money in your pocket (or in this case, put against the principal of your mortgage).

The principal of these mortgages was guaranteed by Ginnie Mae, but not the risk that borrowers pay off the principal balance early or opt to refinance the loan, a set of possible future outcomes known as «prepayment risk.»

The full amount of extra payment is applied directly to the principal of your mortgage.

You will also be able to put more and more money towards the principal of the mortgage instead of paying off high interest rates month after month.

If you've got a mortgage through Wells Fargo, the Wells Fargo Home Rebate Visa will contribute $ 25 to the principal of your mortgage every time you reach $ 2,500 in purchases.

Mortgage insurance policies also decline in actual value as you pay down the principal of your mortgage, where a term or permanent policy (more on the differences between the two in a moment) maintains a fixed value for the duration of the plan.

Repaying the principal of a mortgage doesn't have tax consequences, repaying the balance on a credit card doesn't have tax consequences, and repaying a personal loan for which a life insurance policy is collateral doesn't trigger any tax consequences either.

Amortize — the reduction of the principal of a mortgage with regular monthly payments.

Meanwhile, California Democrats in Congress are calling on President Obama to replace Federal Housing Finance Agency acting director Edward DeMarco, who has opposed writing down the principal of mortgages held by Fannie and Freddie.