Betty Goyens, Your Malibu Agent

F

Fully Amortized ARM

2022-01-14T00:09:38-05:00January 14, 2022||

An adjustable-rate mortgage (ARM) with a monthly payment that is sufficient to amortize the remaining balance, at the interest accrual rate, over the amortization term.

Federal Home Loan Mortgage Corporation (Freddie Mac)

2022-01-14T00:09:25-05:00January 14, 2022||

A quasi-governmental, privately owned agency that purchases conventional mortgage from insured depository institutions and HUD-approved mortgage bankers. Fannie Mae and Freddie Mac are the key secondary mortgage-market agencies

Foreclosure

2022-01-14T00:08:47-05:00January 14, 2022||

A legal process by which the lender or the seller forces a sale of a mortgaged property because the borrower has not met the terms of the mortgage. Also known as a repossession of property.

Fixed Installment

2022-01-14T00:07:56-05:00January 14, 2022||

The monthly payment due on a mortgage loan, including payment of both principal and interest.

Firm Commitment

2022-01-14T00:07:25-05:00January 14, 2022||

A promise by Federal Housing Administration to insure a mortgage loan for a specified property and borrower. A promise from a lender to make a mortgage loan.

FHA Mortgage Insurance

2022-01-14T00:07:11-05:00January 14, 2022||

Requires a fee (up to 2.25 percent of the loan amount) paid at closing to insure the loan with FHA. In addition, FHA mortgage insurance requires an annual fee of up to 0.5 percent of [...]

FHA Loan

2022-01-14T00:06:58-05:00January 14, 2022||

A loan insured by the Federal Housing Administration open to all qualified home purchasers. While there are limits to the size of FHA loans, they are generous enough to handle moderately priced homes almost anywhere [...]

Federal National Mortgage Association (Fannie Mae)

2022-01-14T00:06:46-05:00January 14, 2022||

A privately owned corporation created by Congress that purchases and sells conventional residential mortgages as well as those insured by Federal Housing Administration or guaranteed by Veterans Affairs. This institution, which provides funds for one [...]

Federal Housing Administration (FHA)

2022-01-14T00:06:28-05:00January 14, 2022||

A division of the Department of Housing and Urban Development whose main activity is insuring residential mortgage loans made by private lenders. FHA also sets standards for underwriting mortgages.

Go to Top