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Financial terms in "Loan and Mortgage"

1. Permanent buydown

2. Liability Insurance

3. Refinance

4. Compounding Interest

5. Purchase-Money Transaction

6. Loan to Value (LTV) Ratio

7. Fee Paid From

8. homeowner's warranty

9. Ownership

10. Caps

11. Title Defect

12. Assumable Loan

13. Equity grabbing

14. Settlement Costs

15. Remaining Balance

16. Right of rescission

17. Affordability

18. Assessor

19. Risk Based Pricing

20. Escrow Account

21. Email Address

22. mortgage bond

23. Repayment Fee

24. Real Property

25. Phone

26. Secondary Mortgage Market

27. Federal Housing Administration (FHA)

28. Indemnification

29. Encroachments

30. Silent second

31. Negative Homeowners Equity

32. Encumbrance

33. Mortgage lender

34. Self-employed borrower

35. Co-signer Release

36. Float-down

37. Escalator Clause

38. Ffel

39. Eminent Domain

40. Certificate of Title

41. Margin

42. Mandatory disclosure

43. Transfer Agent

44. Lock

45. Estate

46. Loan Needed

47. No Fee Mortgage Plus

48. Multidwelling Units

49. Sale-Leaseback

50. Deed of Trust

51. Deferred interest

52. Deadbeat

53. Cloud On The Title

54. Adjustment Date

55. Private Uncertified Loans

56. Net jumping

57. Mortgage Banker

58. Reconciliation

59. Temporary lender

60. Credit Score

61. Mortgage spam

62. Half-time Student

63. A Loan or "A" Paper

64. Balance Sheet

65. Repayment Length - Standard And Extended

66. Acceptance

67. GNMA

68. Auction site

69. Fannie Mae (FNMA)

70. Stated income

71. Interest accrual period

72. Lock-in Clause

73. Historical scenario

74. Credit History

75. Property Tax

76. As-is Condition

77. Mortgage Acceleration Clause

78. Deed

79. Pre-Approval

80. Equal Credit Opportunity Act (ECOA)

81. Warehouse lender

82. Freddie Mac

83. Quitclaim Deed

84. Acceleration Clause

85. Stafford Subsidized Loan (fdlp And Ffel)

86. Graduation rate

87. Late Payment Charges

88. Servicing transfer

89. Monthly Housing Expense

90. Title 1

91. VA Loan

92. Prepayment

93. Portfolio lender

94. Shopping site

95. Federal Direct Loan Program (fdlp)

96. Esement

97. Amenity

98. Mortgage Insurance Premium (MIP)

99. Gross Annual Income

100. Subordinate Financing

Note: Maximum 100 records reached. Please narrow your search.

Featured term of the day

Definition / Meaning of

Education Savings Account (ESA)

Categories: Finance,

You can put up to $2,000 a year into a coverdell education savings account (ESA) that you establish in the name of a minor child. The assets in the account can be invested any way you choose.There is no limit on the number of accounts you can set up for different beneficiaries, but no more than a total of $2,000 can be contributed in a single beneficiary's name in any one year. If you choose, you may switch the beneficiary of an ESA to another member of the same extended family.Your contribution is not tax deductible. But any earnings that accumulate in the account can be withdrawn tax free if they're used to pay qualified educational expenses for the beneficiary until he or she reaches age 30. The costs can be incurred at any level, from elementary school through a graduate degree, or at a qualified post-secondary technical or vocational school. There are no restrictions on using ESA money in the same year the student uses other tax-free savings, or the student, parent, or guardian uses tax credits for educational expenses. But you can't take a credit for expenses you covered with tax-free withdrawals.To qualify to make a full $2,000 contribution to an ESA, your modified adjusted gross income (MAGI) must be $95,000 or less, and your right to make any contribution at all is phased out if your MAGI is $110,000 if you're a single taxpayer. The comparable range if you're married and file a joint return is $190,000, phased out at $220,000.

Most popular terms

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4. Loss Payable Clause
5. Lead Time
6. Severance Pay
7. Construction Defect
8. Sell Short
9. Target Date Fund
10. Cash Balance Pension Plans

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