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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Roll In


Synonyms:roll, roll in loans, rolling
Filed Under: mortgages, real-estate
Tags: mortgage, realty
 

Definition of roll in

roll in
1. This term means that certain closing costs are included or rolled into the mortgage loan. As a result, the borrower has lower out-of-pocket closing costs and higher monthly payments.

Related Terms and Acronyms:

  • legal fees and disbursements   Charges paid on your behalf by a solicitor that are in addition to professional costs.
  • non-recurring closing costs (NRCC)   One-time fees paid at a real-estate settlement, including origination, appraisal, points, title insurance and credit report.
      ➥  Non-recurring fees at closing are those that are paid once such as a property inspection or property appraisal fees. Recurring fees are those that are paid again and again such as property taxes, condo fees and property insurance.
  • pre-paid expenses   also called prepaid items or prepaids -- Recurring costs such as taxes, insurance and interest that are paid at closing and which cannot be financed.
  • roll in loans   A refinancing loan that rolls any closing costs or fees into the loan. These programs best serve people who have a reasonable amount of home equity, want to reduce their overall interest expense, and plan to stay in their homes.

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