The Essential Guide to
Mortgage Terms
Your Path to Homeownership
Ivan Lin
Adjustable-rate mortgage (ARM)
Amortization
Appraisal
APR (Annual Percentage Rate)
Cash to close
Cash-out refinance
Closing costs
Closing date
Closing Disclosure
Co-borrower
Conforming loan
Construction loan
Contingency
Conventional loan
Credit history
Credit report
Deed of Trust
Discount Points
Down payment
DSCR Loan
DTI (Debt-to-income)
Equity
Escrow
FHA Loan
Fixed-rate mortgage
Flood certification
Forbearance
Foreclosure
HOA (homeowners association)
Home Inspection
Home insurance
Homeownership
Jumbo loan
Lien
Loan estimate
Loan Officer
Loan Term
Loan-to-Value
Mortgage Broker
Mortgage insurance
Mortgage Loan Originator
Mortgage loans
Mortgage Points
Mortgage term
Non-QM
Owner Occupied Property
Payoff
PMI (Private Mortgage Insurance)
Preapproval
Preliminary Title Report
Principal
Property tax
Quit claim deed
Title
Underwriting
VA Loan
Verification of Employment (VOE)
Editor: Ivan Lin