Explore the Mortgage101 Library
Check Local Mortgage Rates
Today's Average
4.59%
Calculators
FEATURED CALCULATORLoan Program Choices
Use our calculator to find out your estimated monthly payment in advance: Enter the loan amount, interest rate, and length of mortgage.
Try our Mortgage Payment Calculator
TERMINOLOGY
Asset – Any item of value owned by a person. This might include cash, real estate properties, businesses, stocks, bonds, or other property.
Liabilities – The obligation to pay money to another person for a good or service.
Line of Credit – The maximum amount of money available for a borrower to borrow from a bank with specified conditions.
Net Worth – The total value of one's assets minus his or her liabilities.
Prime Rate – The rate at which banks lend to their most credit-worthy borrowers.
More Articles...
What Are Typical Mortgage Down Payments?
3 Factors that Can Negatively Affect Your Mortgage Application
- FHA Loans for a First-Time Home Buyer
- Second Mortgages: Advantages and Disadvantages
- Alternatives to Getting a 2nd Mortgage
- 3 Warning Signs of Loan Modification Scams
- What Lenders Don't Reveal About Home Equity Loans
- Home Equity Loans for People with Bad Credit
- FHA Eligibility with Bankruptcy and Foreclosure
- How to Get Approved for an FHA Loan despite Bad Credit
- Appraisal Basics