Bad Credit Home Loans can help find financing for a new home loan, mortgage refinancing, home equity line of credit, or any other mortgage product, even with bad credit. We can connect you with a mortgage lender with special financing in Rockland Maine. Compare the lowest Bad Credit Home Loan Rates and apply for a Rockland Maine Home Loan. We help consumers with Bad Credit find the right lender for their needs. In addition to standard home loans, ask us about Home Equity Loans, FHA loans, VA Loans, debt consolidation, and Maine bad credit home loans.
Mortgage Refinancing in Rockland, Maine.
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Adjustable Rate Mortgage (ARM) A mortgage whose interest rate changes over time based on an index and a margin. Rate changes are made at prescribed times and within prescribed limits (caps) as defined in the mortgage contract.
First Mortgage A real estate loan with a lien (i.e., mortgage or deed of trust) on the subject property that has priority over any subsequently lien or financial encumbrances.
Origination Fee The fee charged by a lender to prepare loan documents, make credit checks, inspect and sometimes appraise a property; usually computed as a percentage of the face value of the loan. Origination fees are paid by the lender or included in the loan as part of the closing costs. Lender's can also charge an origination fee to the borrower, when funding the mortgage with a table lending mortgage broker. Origination fees are considered tax deductible points.
Simple Interest Interest which is computed only on the principle balance.
