Investor Glossary-joint mortgageInvestor Glossary-joint mortgageInvestor Glossary-joint mortgageInvestor Glossary-joint mortgageInsightful stock market charts - Click here
investor
Categories    # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Joint Mortgage

The HTML to link to this page
 

A joint mortgage is simply a mortgage with more than one mortgagor. The person with the highest income is typically considered the primary borrower in a joint mortgage, though both (or all) of the mortgagors are equally liable for the debt on the property, even if someone moves out. How much you can borrow with a joint mortgage depends on both incomes. In a joint mortgage, you can typically borrow up to 2.5 or 3 times the higher income plus 1 times the lower income. Otherwise, those with a joint mortgage will work with lenders who prefer adding both incomes, then multiplying by 3.5. People who opt for a joint mortgage do not have to be married to the other mortgagor - friends, for example, may also apply for a joint mortgage.



Rate this joint mortgage definition...

Learn about investing with the Investor Glossary Term of the Day


Click here for insightful stock market charts. Where is the market headed? The answer may surprise you. Find out
with the exclusive & Barron's recommended charts of Chart of the Day.


Popular Terms: current ratio, quality assurance, labor relations, Key Rate Duration, 1031 exchange, APR, 1035 exchange, open position, LIBOR, phantom income, minority interest, retained earnings, option premium, deferred revenue, class C shares, balance sheet, stock market close, stock split, irrevocable trust, margin rate, average price per share, cancelled check, in escrow, risk management, inflation, FTSE, dividends payable, command economy, required rate of return, Zero Cost Collar, ex-dividend, implied volatility, limit order, 144a, debt service coverage, reverse mortgage, diluted share, wholly-owned subsidiary, per diem, real GDP, covered put, EBITDA, 401a, liquidity ratio, FICO score, ex-dividend date, annual return, VIX, deferred tax


Accounting | Banking | Bonds | Brokers | Economy | Futures | Mutual Funds | Options | Real Estate | Retirement | Stocks | Taxes | Technical Analysis
Home | Term of the Day | Suggest a Term | Chart of the Day | Dogs of the Dow
©2004-2016 Investor Glossary - All rights reserved - Terms of Use