Current Mortgage RatesThursday, September 02, 2010Glossary of Terms1 2 3 4 5 7 8 A B C D E F G H I J L M N O P Q R S T U V W Y Z
Back End Back-End Ratio Backup Offer Bad Credit Refi (Refinance) Balance Balance Sheet Balloon Balloon (Payment) Mortgage Balloon Loans Balloon Mortgage Balloon Payment Balloon Reset Mortgage Bank Draft Bank Of England Base Rate Bankruptcy Base Loan Amount Basis Point BC & D Lender Or Loan Before-Tax Income Beneficiary Bequest Best Faith Estimate Bill Of Sale Billing Cycle Billing Error Bimonthly Mortgage Binder Or "Offer To Purchase" Biweekly Mortgage Blanket Mortgage Bona Fide Bond Bond Market Bond Program Book Value Borrower Breach Bridge Loan Broker Broker Processing Fee Budget Budget Mortgage Builder-Financed Construction Building Code Building Line Or Setback Buildings Insurance Business Days Buy-Up Buydown Buydown Mortgage Buyer's Market Blanket MortgageA blanket mortgage is a loan that covers more than one plot of land that is owned by the same borrower. Land developers most commonly use blanket mortgages to purchase an area of land with the intention of dividing it into many separate lots for resale or development. Rather than mortgaging each lot separately, a blanket mortgage can be used to reduce costs and increase time efficiency. Blanket mortgage loans are also used by home buyers for financing the construction of a new home. Borrowers can use a blanket mortgage to access the equity in their current home and use it for down payment and closing costs on the new home. A blanket mortgage loan enables borrowers to finance the new home and start building before their old house sells. |