Definition
Combined Loan-to-Value
All liens secured by the property divided by its value, including second mortgages and home equity loans.
Nearby terms
Cloud on Title
Any claim, lien or encumbrance that impairs clear ownership and must generally be resolved before a sale can close.
Collateral
The property pledged as security for a loan, which the lender may foreclose upon if the note is not paid.
Commitment Letter
A lender's formal written agreement to make a loan on stated terms, usually subject to remaining conditions.
Comparable Sales
Recently sold properties similar in location, size and condition, used to establish market value.
Ready when you are
See your real numbers before you fall in love with a house.
Live rates, a full cost breakdown, and a pre-approval you can shop with. It takes a few minutes and it does not lock you into anything.
No fee · No obligation · Pre-approval typically under an hour · Call or text 24/7 · NMLS 2705737