Home Equity Line of Credit Costs
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
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- Seller carry back
- An agreement in which the owner of a property provides financing, often in combination with an assumed mortgage.
- Stated/documented income
- Some loan products require only that applicants "state" the source of their income without providing supporting documentation such as tax returns.
- Subordination
- If you are refinancing your first mortgage and have an existing second or home equity line, one option is to "subordinate" the second mortgage: request that your second mortgage holder go back into the second lien position when you replace your existing first mortgage with the new refinance loan.
- Survey
- A print showing the measurements of the boundaries of a parcel of land, together with the location of all improvements on the land and sometimes its area and topography.
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