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| Escrow | An account set up by the lender in which money is held to pay for taxes and insurance. | | | | | Fair Market Value: | A term for the price which a property would bring in a competitive market, given a willing seller and willing buyer, each having a reasonable knowledge of all pertinent facts, with neither being under any compulsion to buy and sell. | | | | | Fannie Mae: | A congressionally chartered corporation which buys mortgages on the secondary market from Banks, Savings & Loans, etc. | | | | | Fees | Companies can charge for financial services in different ways, some more straightforward than others. Many lenders or brokers require up-front fees, often before they begin any work on your project. At Capital Sources Group, we pride ourselves with a strategy of not charging upfront fees, and we only accept projects we believe can be funded. | | | | | FHA | Federal Housing Administration, a government agency. | | | | | Finance | 1.The management of money or the monetary support for an enterprise, project or venture. 2 money resources of a State, company, or person. 3. as in financing, to provide capital for. | | | | | First Time Business Loan | New businesses all begin with some form of first time business loans or financing. Many of today’s major companies, including GE, Fed-Ex, Motorola and others all began as start-up businesses requiring first time business loans. These loans can occur several ways, including credit card financing, family or angel investors, venture capital funding or through unique financing processes. | | | | | Fixed rate | A guaranteed rate that is normally set just below the standard variable rate and is guaranteed for a certain period of time. If the standard variable rate falls below the fixed rate you will still have to pay the fixed rate. Once the fixed rate period ends you will normally pay the lender's variable rate. Sometimes there are redemption penalties associated with this type of deal. Often in new business ventures, the fixed rate is prime plus a number of points characterizing the associated risk of the venture. | | | | | Fixed Rate Mortgage | A mortgage with an interest rate that remains constant for the life of the loan. | | | | | Fixed Rate Mortgage: | A mortgage with an interest rate that remains constant for the life of the loan. | | | |
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