a loan on real estate property that is offered by a private lender, and is not guaranteed by the VA, FHA, or other government entities that insure mortgages.
Any loan that is not guaranteed by the Federal government.
A mortgage loan that does not exceed 75% of the lending value of the property. Mortgages that exceed this limit must be insured by CMHC (or similar insurance provider).
A mortgage loan that is not required to be insured as it is less than a statutory percentage of value (75%).
A mortgage up to 75% of the value of the property. This is on a purchase or a refinance. A mortgage the exceeds 75% of the value is referred to as a "high-ratio mortgage."
A mortgage made by a bank or other private institution and not insured by a governmental agency.
Any mortgage that does not exceed a 75% loan to value ratio.
A mortgage loan that is not guaranteed or insured by the government. FHA and VA loans are not conventional loans.
A mortgage not affiliated with a government program.
A conventional mortgage is one that isn't insured or guaranteed by the federal government.
A mortgage not guaranteed by VA or insured by FHA, FMHA or State Bond Agencies.
Any mortgage that's not insured or guaranteed by the federal government.
A mortgage offered by a lender who assumes all the risk of loss; typically requires a down payment of at least 20 per cent of the value of the mortgaged property.
First mortgage loan which does not exceed 75% of the appraised or purchase price ( whichever is less).
A mortgage that is 75% or less of the value of the property.
A mortgage loan not insured by HUD or guaranteed by the VA. It is subject to conditions established by the lending institutions and by state laws.
A type of mortgage not insured by either the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA).
A mortgage on real estate securing a loan made by a private investor, not guaranteed by a Government agency such as FHA or VA.
A conventional mortgage is a loan up to 75% of the appraised value or purchase price of the property, whichever is less. This is the most common type of mortgage and is available through most lenders.
A mortgage securing a loan made by investors without government underwriting; i.e., non-FHA or VA insured or guaranteed.
Any home loan which is not insured or guaranteed by the federal government as VA and FHA loans are.
A mortgage where the loan does not exceed 75% of the value of a house/property. For example a $150,000. mortgage on a purchase price of $200,000. would be classified as a Conventional Mortgage.
A mortgage loan underwritten by banks, savings and loans, or other types of mortgage companies.
A mortgage loan where the mortgage loan does not exceed 75% of the appraised value of the property and is therefore not required to be insured by a government agency such as CMHC.
A mortgage loan made directly to a borrower without benefit of any government insurance or guarantee.
A mortgage loan which does not exceed 75% of the lesser of the appraised value or the purchase price of the property. A mortgage that exceeds that limit must be insured under the practices of most major financial institutions.
A mortgage loan that is made without FHA (Federal Housing Administration) insurance, USDA (United States Department of Agriculture) insurance, state bond insurance or VA (Veteran's Administration) guarantee.
is a loan for $333,700 or less, that meets the standards set by Fannie Mae and Freddie Mac, the largest purchasers of home mortgages on the secondary market.
A mortgage not insured by the government, unlike FHA and VA loans that are insured by the government.
A loan neither FHA insured nor guaranteed by the VA. A loan approved under Fannie Mae or Freddiemac guidelines.
One which is not insured by a government agency.
A Mortgage not insured by the government, such as FHA or VA.
The "conventional mortgage" is usually a 30-year fixed loan, with a 20% down payment. Its maximum amount is fixed every year by the major secondary lenders. As of November 1999, the amount was $252,700. Conventional mortgages are sometimes called " conforming" loans.
A mortgage loan made without government insurance or guarantee and conforms to accepted standards. CREDIT CARD RATIO -- This is a ratio of credit card balances in relation to the credit card limits. The higher the ratio the more indebted the applicant and the higher the lending risk.
This kind of mortgage requires that you make a down payment of at least 25 per cent of the appraised value, i.e. if the appraised valued is $200,000, a down payment of $50,000 or more is required for it to be considered conventional.
A mortgage loan subject to conditions established by the lending institution and State statutes. Meets Fannie or Freddie Mac guidelines.
A home loan with a fixed rate.
mortgage loan that is not insured in any way by the federal government such as a VA or FHA loan. These loans are usually approved using guidelines issued by Fannie Mae and Freddie Mac.
A mortgage made by a lender.
A real estate loan that is not guaranteed by a government program.
Any real estate loan that is neither FHA-insured nor VA-guaranteed. Deed - A written instrument to transfer title to real property from one party to another. Earnest money deposit - A deposit made by the potential home buyer to show that he or she is serious about buying the house.
A mortgage that is up to 75% of the purchase price or the value of the property. A mortgage exceeding 75% is referred to as a "High-Ratio" mortgage and the lender will require insurance for that mortgage.
Any mortgage loan that is not insured by FHA, guaranteed by VA, of funded by a government authorized bond sale or grant.
A mortgage that is not insured or guaranteed by CMHC or GE Capital.
A loan that qualifies to be purchased by Fannie Mae or Freddie Mac and does not have FHA insurance, USDA insurance, state or local bond insurance or a VA Guaranty.
A mortgage in which the interest rate and payments remain constant over the life of the loan.
A mortgage loan of up to a maximum of 75% of the lending value of the property for which a lender does not require loan insurance.
A mortgage not insured or guaranteed by a federally insured program such as FHA or VA.
A fixed-rate, fixed-term mortgage not insured by the federal government.
A mortgage securing a loan made by investors without government underwriting -- that is, not FHA insured or VA guaranteed.
A fixed-rate, fixed-term and fixed-payement loan by a bank or other lending institution.
A loan based on the credit of the borrower and on the collateral for the mortgage.
A mortgage loan which does not exceed 75% of the appraised value or purchase price of the property, whichever is the lesser of the two. Mortgages that exceed this limit must be insured.
A mortgage not obtained as under a government insured program (such as F.H.A. or V.A.).
A mortgage securing a loan made by investors without governmental underwriting, i.e., which is not FHA insured or VA guaranteed.
A mortgage loan not insured by outside Governmental agencies. It is subject to conditions established by the lending institution and State statutes.
A mortgage not obtained under a government-insured program (such as VA or FHA).
A mortgage that is not insured or guaranteed by the federal government.
A mortgage loan issued for up to 75% of the property's appraised value or purchase price, whichever is less.
A first mortgage issued for up to 75 per cent of the property's appraised value or purchase price, whichever is lower.
A home loan other than those insured or guaranteed by a government agency such as the Federal Housing Administration (FHA) or Department of Veterans' Affairs (VA).
A mortgage loan that does not exceed 75% of the property's appraised value. You have a conventional mortgage if your down payment is 25% or more of the homeâ€(tm)s purchase price.
A first mortgage, in which the amount of the loan does not usually exceed 75% of the appraised lending value of the property.
mortgage not FHA insured or guaranteed by the VA, so-called because it is the most popular home financing method.
A mortgage loan up to 75% of the appraised value or purchase price of the property, whichever is less. Mortgages beyond this limit must be insured by CMHC (Canadian Mortgage and Housing Corporation) or GE Capital.
A mortgage that does not exceed 75% of the purchase price of the home. Mortgages that exceed this limit must be insured against default, and are referred to as high-ratio mortgages (see below).
A home loan that follows a fixed rate. It's neither guaranteed nor insured by the Federal Housing Administration (FHA) or Department of Veterans' Affairs (VA).
A mortgage loan not issued by Federal Housing Authority (FHA), or guaranteed by the Veteran’s Administration (VA) or Farmers Administration. Conventional loans are usually advantageous in the sense that the borrower does not have to pay mortgage insurance (or MI). However, conventional loans may have more requirements on the borrower to qualify.
A mortgage loan up to a maximum of 75% of the lending value of the property. Mortgage loan insurance is not required for this type of mortgage.
A mortgage loan not insured by HUD or guaranteed by the Veterans Administration. It is subject to conditions established by the lending institution and State statutes. The mortgage rates may vary with different institutions.
A mortgage loan up to a maximum of 75% of the purchase price is referred to as a conventional mortgage. Any mortgage in excess of 75% must be insured against default. See also High Ratio Mortgage.
Loans that are not part of a government-housing program, and are not insured or guaranteed by the federal government.
Usually refers to a fixed-rate, 30-year mortgage that is not insured by the FHA, Farmers Home Administration (FmHA) or Veterans Administration.
A mortgage loan granted by a bank or thrift institution collateralized solely by real estate and not insured or guaranteed by a government agency.
A mortgage that is not insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA).
A home loan obtained through a traditional lender such as a bank or savings and loan, not a government loan (VA or FHA).
any mortgage that is not government insured is considered to be conventional mortgage.
A mortgage that does not exceed 75% of the appraisal value or purchase price of the property, whichever is lower. Mortgage loan insurance is not required for this type of mortgage.
A first mortgage for the purchase of a home, of up to 75% of the property's appraised value or purchase price, whichever is lower.
A loan not guaranteed, insured or made by the federal or state government.
A loose term which generally refers to a fixed-rate conforming loan other than an FHA or VA loan.
Loan arranged between lender and borrower with no governmental guarantee or insurance. Loan must not exceed $300,000.
The requirements for Mortgage terms, costs and interest rates together with the types of homes a bank will lend money on are set by the private segment of the industry (local lenders, FNMA or FHLMaC) and do not involve the Government's FHA or VA guidelines. Conventional Mortgages do not have a maximum dollar amount like Conforming Mortgages mentioned above.
a mortgage not obtained under a government insured program (such as FHA or VA).
"Non-government" mortgages that require high down payments (typically 5% of the sales price) and allow less current personal debt. Either ARM or fixed rate.
A mortgage loan that is 75 per cent or less of the loan-to-value ratio; and does not require insurance by CMHC or other private insurer.
A loan arranged between a lender and borrower that is not covered by governmental guarantee or insurance.
A mortgage loan not insured by FHA or guaranteed by VA or Farmers Home Administration.
A mortgage securing a loan made by investors without government underwriting (e.g. not FHA-insured or VA-guaranteed).
A mortgage with a value of 75% or less of house value.
is a mortgage loan other than those insured or guaranteed by a government agency such as the FHA (Federal Housing Administration), the VA (Veterans Administration), or other agencies.
A mortgage which is not insured by FHA nor guaranteed by the VA or Farmers Home Administration. The loan could either be a fixed rate or adjustable rate mortgage.
A permanent, long-term loan made by institutional lenders, mortgage companies and private individuals which is not insured by the Federal Housing Administration or the Veterans Administration.
Terms usually used to indicate a fixed-rate, 30-year mortgage not associated with the Veteran's Administration, Federal Housing Authority, or Farmers Home Administration (FmHA).
A mortgage usually amounting to 75% (Loan to Value ratio) or less of the value of the property.
Lifetime Cap Title Insurance
Refers to home loans other than government loans (VA and FHA).
A first mortgage of up to 75% of the property's appraised value or purchase price, whichever is less subject to lending license.
A mortgage that is not insured by the federal government. Unlike an FHA or VA mortgage.
a mortgage for less than 75 percent of the appraised value of a property. Default of mortgage - failure to meet obligations in a mortgage contract, usually by failure to make the repayments agreed to in the mortgage contract. Mortgage default may also be caused by failure to pay property taxes, insure the property adequately, keep the property in good repair or to pay condominium maintenance fees, if appropriate. Discharge of a mortgage - a release from the mortgage lender for the borrower when the mortgage debt is completely repaid. Dual agent or agency - an agent that serves both seller-clients and buyer-clients concurrently. Client confidentiality may not be possible since what each client reveals must be shared with the other client. Conflict of interest issues may arise for the dual agent. Continued in the next column... Click Here
A loan neither insured by the FHA nor guaranteed by the VA.
A mortgage that does not exceed 75% of the appraised value or purchase price of the property, whichever is less.
A first mortgage, outside the conditions of NHA (the National Housing Act), granted by an institutional lender such as a bank, trust company, life insurance company or private individual wherein the amount of the loan does not exceed 75% of the appraised lending value of the property.
A first mortgage - the principal amount of which cannot exceed 75% of the lesser of the appraised value of the property or the purchase price for the property.
A mortgage or deed of trust not obtained under a government insured program. A loan provided by investors.
A mortgage loan that is obtained without any additional guarantees for repayment, such as FHA insurance, VA guarantees, or private insurance. This is usually given at an 80% loan-to-value ratio.
Home loan from traditional lender such as a bank or any other non-government lender
A mortgage that is up to 75% of the property's appraisal or its purchase price, whichever is lower.
A mortgage loan not insured by HUD or guaranteed by the Veteran's Administration. It is subject to conditions established by the lending institutions and between states. (States have various interest limits.)
Most popular home financing form not insured by Federal Housing Administration (FHA) or guaranteed by Veteran's Affairs (VA). Available from many lenders at varying rates, terms, and conditions.
A private mortgage loan neither government insured (FHA) nor government guaranteed (VA).
a mortgage loan not insured by HUD or guaranteed by the Department of Veterans Affairs. It is subject to conditions established by the lending institution and State statutes.
It refers to the private home loans, not supported by the government.
Mortgage not FHA-insured or guaranteed by the VA, known by this name because it is the most popular home financing method.
Any loan granted by a non-governmental (usually commercial) lender. Most loans are conventional, except for those insured by the Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA).
a traditional mortgage for up to 75 percent of the appraised value of a property.
Any mortgage loan other than an FHA (Federal Housing Administration) or VA (Department of Veterans Affairs) insured loan.
A real estate loan granted that is neither FHA-insured nor VA-guaranteed
A loan typically made by investors that does undergo governmental underwriting.
All regular home loans besides government loans like VA and FHA.
A mortgage that is not insured or guaranteed by a government agency.
A regular loan that may be privately insured, but is not insured or guaranteed by the government.
Any mortgage which is not insured or guaranteed by a government agency such as HUD/FHA, VA, or the Farmers Home Administration.
Any mortgage loan not insured by HUD or guaranteed by the Veterans'' Administration. It is subject to conditions established by the lending institution, Fannie Mae, Freddie Mac, and State statutes
a private sector loan, one that is not guaranteed or insured by the U.S. government.
A mortgage where the borrower is contributing more than 25% or more of the value of the property as the down payment.
A mortgage loan made by an institutional lender without the inclusion of government guarantees such as VA or FHA loans. back
A residential mortgage pool with collateral mortgage issued by a bank, commercial or savings and loan association, with a fixed rate and term. Conventional mortgages are guaranteed by FNMA or FHLMC