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
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| Title
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| A document that gives evidence of an individual's
ownership of property. |
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| Title Insurance
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| A policy, usually issued by a title insurance
company, which insures a home buyer against errors in the title search. The
cost of the policy is usually a function of the value of the property, and is
often borne by the purchaser and/or seller. Policies are also available to
protect the lender's interests. |
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| Title Search
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| An examination of municipal records to determine
the legal ownership of property. Usually is performed by a title company.
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| Total Expense Ratio
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| Total obligations as a percentage of gross
monthly income including monthly housing expenses plus other monthly debts. |
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| Truth in Lending
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| A federal law requiring disclosure of the Annual
Percentage Rate to home buyers shortly after they apply for the loan. Also
known as Regulation Z.
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