A report detailing an individuals credit history prepared by a credit bureau or credit reporting agency and used to aid in the determination of credit worthiness. A credit report lists the open and closed accounts of the consumer, the payment history, available credit on open accounts, high credit amounts, bankruptcies, judgments, name, last reported address,
One of the most important concerns for home loan borrowers when choosing a mortgage is making sure they can comfortably afford the monthly mortgage payment. Mortgage payment calculators calculate the monthly mortgage payment for a given loan amount, interest rate and loan term. For simple mortgage payment calculators, the result will be the equal monthly
A procedure where a lender agrees to lock-in a specific interest rate on a mortgage loan request for a specified period of time. See rate lock.