California Property Definitions

Conventional Mortgage Loan

Published on 2011-10-02 18:57:00

: Any mortgage loan not guaranteed or insured by the government (typically through FHA or VA programs).

Dictionary: Real Property

Published on 2010-08-19 23:16:00

1. Rights, interests, and benefits inherent in the ownership of real estate, as distinguished from personal property; frequently thought of as a bundle of rights.2. Real estate may be loosely defined as land (including air rights) and other properties that are permanently attached to land such as houses, fences, and landscaping.3. The terms real property and Real Estate are often used interchangeably.

What is Alt-A, does it still exist?

Published on 2008-12-30 05:50:00

If you ask 5 different mortgage persons what they are, you are likely to get 5 different answers. However, most will probably be pretty close, just a bit different perspective."A classification of mortgages where the risk profile falls between prime and subprime. The borrowers behind these mortgages will typically have clean credit histories, but the mortgage itself will generally have some issues that increase its risk profile. These issues include higher loan-to-value and debt-to-income ratios