Laguna Beach Mortgage

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Mortgage Glossary

Use this glossary to look up definitions of mortgage terms.

The definitions given here explain how the terms are used in the field of real estate finance.

 

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Wraparound Financing
A seller financing arrangement in which the seller uses part of the buyer's payments to make the payments on an existing loan (called the underlying loan), the buyer takes title subject to the underlying loan, but does not assume it.

Yield
A lender's or investor's rate of return on a loan or investment, expressed as a percentage of the amount loaned or invested
Zero Down
Loans for which you don't need money for a down payment, but that you still need money for the additional costs like prepaids and closing costs.