Mortgage Terms Used by Dreyer Group Mortgages
We have put together some basic information on mortgage terminology, mortgage costs and some tips on how to make an informed decision on your mortgage needs. There are 20 entries in this glossary.
All
| Term | Definition |
|---|---|
| Interim Financing |
When the purchase of your new home closes in 60 days but the firm sale of your current home closes in 90 days, you will need interim or bridge financing. This is because for 30 days, you will own both properties, and of course, not receive the equity out of your old property. If the lender you choose cannot provide you with interim financing, you may find getting it from alternate lenders will be very expensive. |




