To help you locate a term, enter the first character or two of a term and press the 'Refresh' button. Or, just click on the handy alphabetical index to jump to that section of the glossary.
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VA
A loan, part of which is guaranteed by the Veterans Administration.
Verification of income
1. A current pay stub from borrower(s) employer.
2. W2's from the borrower(s) employer -- most recent two years.
3. Written verification of employment from the employer (lenders request this information directly from employer).
4. Federal tax returns for last two years and current period profit and loss statement for self-employed borrowers.
2. W2's from the borrower(s) employer -- most recent two years.
3. Written verification of employment from the employer (lenders request this information directly from employer).
4. Federal tax returns for last two years and current period profit and loss statement for self-employed borrowers.
Veterans Administration (VA)
An agency of the federal government that guarantees residential mortgages made to eligible veterans of the military services. The guarantee protects the lender against loss and thus encourages lenders to make mortgages to veterans.
weekly/bi-weekly
When Payments are Due (htm)
Click the drop-down arrow and select the time period when payments are due.
The default is Monthly.
The default is Monthly.
Withdrawal Amount
The amount of the regular withdrawal.
Withdrawal Amount (htm)
The
amount of the regular withdrawal.
amount of the regular withdrawal.
Withdrawals
Check this box to enter withdrawal amounts.
Withdrawals (htm)
Check
this box to enter withdrawal amounts.
this box to enter withdrawal amounts.
Withdrawals per Year
The number of withdrawal periods per year if the account includes regular withdrawals.
Withdrawals Per Year (htm)
The
number of withdrawal periods per year if the account includes regular
withdrawals.
number of withdrawal periods per year if the account includes regular
withdrawals.
Worksheet (htm)
Click
to display the Fees and Charges Worksheet, where you enter fees that must be
always included in the calculation, those that are never included, and any
special exclusions for real estate loans.
to display the Fees and Charges Worksheet, where you enter fees that must be
always included in the calculation, those that are never included, and any
special exclusions for real estate loans.
Worksheet Name (htm)
Enter
the worksheet name for the Excel spreadsheet.
the worksheet name for the Excel spreadsheet.
wraparound mortgage
A mortgage that includes the remaining balance on an existing first mortgage plus an additional amount requested by the mortgagor. Full payments on both mortgages are made to the wraparound mortgagee, who then forwards the payments on the first mortgage to the first mortgagee.
XML Close Button
Click here to close the XML Preview window.
XML Close Button
Click here to close the XML Preview window.
XML Detail
The XML Detail check box, when checked, will display all the XML details available from the engine. Normally, just the data name and value are included in the XML Output. Additional data that is displayed when this option is selected includes the data type and the data definition of each field.
XML Detail
The XML Detail check box, when checked, will display all the XML details available from the engine. Normally, just the data name and value are included in the XML Output. Additional data that is displayed when this option is selected includes the data type and the data definition of each field.
XML Request Output Button
Click here to refresh the XML Preview window if you have selected different options.
XML Request Output Button
Click here to refresh the XML Preview window if you have selected different options.
XML Structure
The XML Structure check box, when checked, will display all the XML definitions available from the engine. Normally, only data fields are displayed that contain values (non-zero or non-blank). When this box is checked, all fields are output regardless of their value.
XML Structure
The XML Structure check box, when checked, will display all the XML definitions available from the engine. Normally, only data fields are displayed that contain values (non-zero or non-blank). When this box is checked, all fields are output regardless of their value.
Year-end interest total (I) (htm)
Select to display the total of interest payments by the end of
the year on the amortization schedule.
the year on the amortization schedule.
Yearly Maintenance Costs
The average yearly cost of maintaining this house being purchased in this comparison. Since you are comparing with a rental where you will not have to maintain the property, you should include any costs you may incur which you would not incur if you rented.
See Hints:
See Hints:
Zoom In (icon) (htm)
Click
to display the results at a larger screen size.
to display the results at a larger screen size.
Zoom Out (icon) (htm)
Click
to display the results at a smaller screen size.
to display the results at a smaller screen size.
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