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Mortgage Refinancing in Midland, Texas.
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Construction Loan A short term interim loan for financing the cost of construction. The lender advances funds to the builder at periodic intervals as the work progresses.
Convertible ARM An adjustable-rate mortgage that can be converted to a fixed-rate mortgage under specified conditions.
Mortgage A conditional conveyance of property as security for the payment of a debt or the fulfillment of some obligation. Upon payment of the debt or performance of the obligation the mortgage becomes void.
Simple Interest Interest which is computed only on the principle balance.
