Wholesale Mortgage Services of Wisconsin, LLC.

• Mortgage Calculators
• Mortgage Glossary
• Credit Scores
• Loan Pre-approval
• Purchase Process
• Home Refinance
• Buying a Condominium
• Mortgage Forms
• What Can I Expect
• No Closing Costs
• Mortgage For Beginners
• Mortgage Insurance (PMI)
• Mortgage Rate Commentary

Please click on the letter below to skip to the definition of the word you are looking for.

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

B

Back End

This refers to the debt-to-income ratio calculated using principal, interest, taxes, insurance and consumer credit obligations divided by gross monthly income. It is expressed as a percentage.

Balloon

Usually a short-term fixed-rate loan which involves small payments for a certain period of time and one large payment for the remaining amount of the principal at a time specified in the contract.

BK / Bankruptcy

A reorganization or discharge of debts. Could also be referred to as Chapter 7, 11 or 13.

Broker

An individual in the business of assisting in arranging funding or negotiating contracts for a client but who does not loan the money himself. Brokers usually charge a fee or receive a commission for their services.

Buy Down

When the lender and/or the home builder subsidizes the mortgage by lowering the interest rate during the first few years of the loan. While the payments are initially low, they will increase when the subsidy expires.