MAXIMUM LOAN AMOUNT
The maximum amount that an individual can borrow. The lender set the maximum loan amount based on various factors such as the selected loan program, value of the property that needs the loan, and the borrower's qualifying ratios and credit history. Lenders offer several loan programs that is tailored for different classes of borrowers.
In the United States, the Office of Federal Housing Enterprise Oversight (OFHEO) sets the limit on the mortgages that Fannie Mae and Freddie Mac may guarantee.
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Tit for Tat
Game theory mechanism subject to a payoff matrix similar to a prisoner’s dilemma. Anchored on the concepts of retaliation and altruism, this ...
Nonsegregated Disclosures
Information that must be presented legally anywhere in a lease agreement. These are required by the Federal Reserve Board Regulation M. The lease a ...
Product Line
A series of related products which are all made or manufactured by the same company.
Behavioral Economics
The scientific study on how the mind thinks and how each person reacts as it relates to the process of decision making in economics of individuals ...
Infant-Industry Theory
A theory stating the emerging domestic industries must be protected against foreign competition until they become established and mature. In econom ...
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It’s almost done! With just a few steps away, the house that you have been dreaming of will be yours.
A Guide to Your Personal Income Tax: Common Filing Mistakes
Failure to file the return on time is the most common mistake committed by taxpayers. Here are some of the other mistakes, which can cost you a lot ...
Renovate or Move?
You have a well-furnished home with a garden full of flowers and plants. Imagine sharing your beautiful abode, which has four bedrooms, a kitchen, ...
An Introduction to Forex Currencies
As the biggest market in the world, the foreign exchange market or forex is also one of the most participated in the world. As such, learning about ...
An Introduction to Stocks
Imagine this: you are a company owner, you get income but you don’t go to work, you just do what you want and the money keeps coming in. This ...
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