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Mortgage Rates Comparison

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Mortgage Rates Comparison

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  1. Mortgage Markets Mortgage Lowest Rate

  2. Contact Number 1 800 929 0625 • Properties • Residential Properties • Single-Family Structures • Multifamily Structures • Nonsidential Properties • Commercial • Farm

  3. Mortgage • Mortgage A pledge of property to secure payment of a debt. • Mortgagor: Borrower • Mortgagee: Lender

  4. II. Primary Mortgage Market • Mortgage Origination • Mortgage Originators • Savings and Loans • Savings Banks • Commercial Banks • Credit Unions • Mortgage Banks • Life Insurance Companies • Pension Funds

  5. Mortgage Payment Calculator • Origination Process • Application • Criteria • Payment-to-Income Ratio (PTI) The ratio of monthly payment to monthly income. • Loan-to-Value Ratio (LTV) The ratio of the amount of the loan to the market (or appraised) value of the property. • Credit Scoring • Commitment Letter to the Applicant

  6. III. Secondary Mortgage Market • Conduits • Federally Sponsored Agencies Federal Home Loan Mortgage Corporation Federal National Mortgage Association • Private Institutions Residential Funding Corporation GE Capital Mortgage Services Countrywide Prudential Home Mortgage

  7. IV. Mortgage-Backed Securities • Mortgage-Backed Bonds • FNMA • Freddie Mac • Pass-Throughs: Government guaranteed mortgages • GNMA • Privately Issued Pass-Throughs (PIPs)

  8. Participation Certificates (PCs): Conventional mortgages pooled by Freddie Mac • Collateralized Mortgage Obligations (CMOs)

  9. Thank You

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