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 Altus Oklahoma. Compare the lowest Bad Credit Home Loan Rates and apply for a Altus Oklahoma 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 Oklahoma bad credit home loans.
Mortgage Refinancing in Altus, Oklahoma.
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Assessed Value The value that a taxing authority, such as a county assessor places on real property as a base for computing property taxes. Generally assessed at 80% of value.
Fannie Mae A common term used in real estate finance taken from FNMA (Federal National Mortgage Association). It provides a market for government secured mortgages held by primary lenders and provides them with a ready market so as to permit a greater turnover of money for loans
Graduated Payment Mortgage (GPM) A type of flexible-payment mortgage where the payments increase for a specified period of time and then level off. This type of mortgage has negative amortization built into it.
Two-Step Mortgage A mortgage in which the borrower receives a below-market interest rate for a specified number of years (commonly seven or 10 years). At the end of the 10 years for example, the interest rate is adjusted (within certain limits) to market conditions at that time. The lender sometimes has the option to call the loan due with 30 days notice at the end of seven or 10 years. also called Super Seven or Premier mortgage.
