For glossary definition click on any word. Abstract of Title Acceleration Clause Adjustment Interval Adjustable Rate Mortgage (ARM) Amortization Annual Percentage Rate (APR) Appraisal Appreciation Assessment Assignment Assumption Balloon Mortgage Bankruptcy Basis Points Biweekly Mortgage Blanket Mortgage Borrower (Mortgagor) Bridge Loan Broker Buy-Down Cap Certificate of Occupancy (CO) Certificate of Reasonable Value (CRV) Certificate of Title Closed End Mortgage Closing Closing Costs Cloud Co-Borrower Co-Operative Co-Signer Collateral Commitment Commitment Fee Common elements/areas/ground Condominium Conforming loan Construction loan Contract sale or deed Consumer Handbook on Adjustable Rate Mortgages Conventional loan Convertible Mortgage Covenants Credit bureau repositories Debt-To-Income Ratio Deed of Trust Default Deferred Interest Delinquency Department of Housing and Urban Development Discount Down payment Due-on-Sale Earnest money Easement Economic obsolescence Environmental hazard Equal Credit Opportunity Act Equity Escrow closing Escrow funds Fair market value Fannie Mae Farmer’s Home Administration Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac) Federal Housing Administration (FHA) Federal National Mortgage Association (FNMA or Fannie Mae) Fee simple FHA FHLMC Fixed Rate Mortgage FmHA FNMA Foreclosure Freddie Mac Gift funds Ginnie Mae Government National Mortgage Association Graduated Payment Mortgage (GPM) Guaranty Hazard insurance Home equity line of credit (HELOC) Home equity loan Homeowner’s Association (HOA) Housing and Urban Development (HUD) Housing debt-to-income ratio HUD Impound Index Installment debt Interest rate Interim financing Investor Jumbo loan Keogh Lien Liquidity Loan discount Loan Origination fee Loan-to-value ratio Lock-in Margin Market value MIP: Mortgage Insurance Premium Mortgage Mortgage broker Mortgage insurance (MI) Mortgagee Mortgagor Negative amortization Net effective income Net rental income Net worth Non-assumption clause Non-conforming loan Non-permanent resident alien Non-resident alien Note Origination fee Payment to income (P/I) ratio Permanent buydown PITI Planned Unit Development (PUD) Points Power of attorney Prepaid items Prepayment Pre-payment penalty Pre-qualification Primary Mortgage Market Prime rate Principal Private mortgage insurance Prorate Qualification Qualifying ratios Refinance Rental income Reserves Resident alien RESPA Reverse Annuity Mortgage (RAM) Revolving debt Second mortgage Second/vacation home Secondary market Self-employed borrower Servicing Settlement Subdivision Survey Sweat equity Temporary buydown Title Title search Underwriter Underwriting Uniform Settlement Statement VA loan Variable Rate Mortgage Verification of Deposit (VOD) Verification of Employment (VOE) Veteran’s Administration (VA) Walk-through Warranty deed Wraparound Mortgage Yield Zoning

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