Glossary of mortgage terms
Adjustment Period
Adjustable Rate Mortgage (ARM)
Amortization
Annual Percentage Rate (APR)
Appraisal
Balloon Loan
Closing
Closing Costs
Conforming Loan
Conventional Loan
Conversion
Credit Report
Credit Score
Debt Consolidation
Debt-to-Income Ratio
Discount Points
Equity
Equity Line of Credit
Equity Loan
Escrow Account
Federal Home Loan Mortgage Corp. (FHLMC)
Federal Housing Administration (FHA)
Federal National Mortgage Association (FNMA)
Fixed Rate Mortgage
Floating
Good Faith Estimate (GFE)
Government National Mortgage Association (GNMA)
Housing and Urban Development (HUD)
Housing Ratio
Impounds
Index
Interest Rate
Investor
Jumbo Loan
Lifetime Cap
Loan to Value Ratio (LTVR)
Lock-in
Low-Cost Loan
Margin
Mortgage Insurance
Mortgage Insurance Premium (MIP)
Mortgagee
Mortgagor
Non-Conforming
Note
Option
Origination Fee
Periodic Rate Cap
Points
Pre-Paids
Prequalification
Principal, Interest, Taxes, and Insurance (PITI)
Private Investor
Private Mortgage Insurance (PMI)
Qualifying Ratios
Rate
Right of Recission
Rider
Second Mortgage
Survey
Title Insurance
Underwriting
Veteran's Administration (VA)
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