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


Accounting | Banking | Bonds | Brokers | Economy | Futures | Mutual Funds | Options | Real Estate | Retirement | Stocks | Taxes | Technical Analysis
Investor Glossary | Term of the Day | Suggest a Term | Chart of the Day | Dogs of the Dow
©2004-2015 Investor Glossary - All rights reserved - Terms of Use