Qualifying Ratios

Qualifying Ratios – David Reecher Comparing a borrower’s income to their proposed monthly housing expense.  Also comparing their income to monthly housing expense added to all of the borrower... Read More

Points

Points – David Reecher Discount points are paid upfront to mortgage brokers to give a sufficient yield when the borrower would like a lower interest rate.  One point is one percent of the loan ... Read More

Plat

Plat – David Reecher A map that is drawn to scale of a specific piece of land that shows the shape, acreage, etc.  The plat  illustrates the geographic boundaries of the  property. David Reec... Read More

Option

Option – David Reecher The right to purchase or lease property within a pre-determined time at a specific price. There is no obligation to purchase, but the seller is obligated to sell if the op... Read More