Welcome to Alpha Mortgage Corporation, your source for mortgages and home loans in North and South Carolina with offices in Wilmington, NC, Charlotte, NC, Fayetteville, NC, Asheville, NC and Greensboro, NC. We are also licensed in Florida, South Carolina & Virginia
Mortgage Glossary
|
A
B
C
D
E
F
G
H
I
J
L
M
N
O
P
Q
R
S
T
U
V
W
|
| |
| |
| H |
| |
| Hazard Insurance |
| A form of insurance in which the insurance
company protects the insured from specified losses, such as fire, windstorm and
the like. |
| |
| Housing Expenses-to-Income Ratio
|
| The ratio, expressed as a percentage, which
results when a borrower's housing expenses are divided by his/her gross monthly
income. See debt-to-income ratio.
|
| |
| HUD-1 statement |
| A document that provides an itemized listing of
the funds that are payable at closing. Items that appear on the statement
include real estate commissions, loan fees, points, and initial escrow amounts.
Each item on the statement is represented by a separate number within a
standardized numbering system. The totals at the bottom of the HUD-1 statement
define the seller's net proceeds and the buyer's net payment at closing. |
.