What Is an Underlying Mortgage? – The Law Dictionary – An underlying mortgage is the original loan taken out by a housing cooperative to finance the purchase of the land or building that it occupies. This term may also be known as a “blanket loan,” “blanket mortgage” or “blanket debt.”
Blanket Mortgage Insurance – Golden Eagle Insurance, Inc – Golden Eagle Insurance is an industry leader in providing innovative blanket protection for lenders across the country. We eliminate the headaches of tracking and force-placing insurance and enable your institution to save time and money with our customer friendly, compliant blanket 360 insurance Program.
Freddie Mac Expands LTV Ratios for Super Conforming Mortgages – Freddie Mac is announcing changes to its Single-Family Seller/Servicer. The principal change, effective for mortgages with settlement dates on or after March 28, will revise loan-to-value.
A blanket loan also eliminates the need to do any refinancing when the old home is sold. At that point, when the portion covering the old home is paid off, the blanket loan simply becomes a standard mortgage covering the new home.
Residential – Eastern Savings Bank – Some of our many niches include jumbo mortgages with credit scores as low as 660, rate mortgages (ARM), fixed rate mortgages, bridge loans, blanket loans,
A blanket bond is an insurance policy that protects a firm from illegal or unethical behavior carried out by its employees. Despite its name, it is not a "bond" in the sense of a debt security.
Home – Blanket Mortgage – blanket mortgage offers jumbo mortgage loans in a variety of terms for primary residences, vacation homes and investment properties. All jumbo mortgage loans are subject to program underwriting approval. Interest Only Loans With these loans you only make interest payments during an initial period of the loan term (usually five to 10 years).
· Blanket Mortgage. The range of interest rates for blanket mortgages are as follows: 5 – 11% with 1 – 30-year loan terms; A blanket mortgage is a portfolio loan that finances two or more investment properties with a single loan. Blanket mortgages have interest rates between 5% – 11% and loan terms between 1 – 30 years.
Deeper definition. One of the most notable benefits of a blanket mortgage is that it usually comes with a release clause. This permits the borrower to sell a piece of property, without having to use the proceeds to pay down the loan. Instead, the borrower can use the funds to purchase and develop more property.