Mortgage Glossary

Acceleration
Adjustable rate mortgage (ARM)
Adjustment interval
Amortization
Annual percentage rate (A.P.R.)
Appraisal
Assessment
Assumption
Balloon (payment) mortgage
Borrower (Mortgagor)
Broker
Buy-down
Cash Flow
Caps (interest)
Caps (payment)
Closing
Commitment
Construction loan
Contract sale or deed
Conventional loan
Credit Report
Debt-to-Income Ratio
Deed of trust
Default
Delinquency
Discount Point
Down Payment
Due-on-Sale-Clause
Earnest Money
Equal Credit Opportunity Act (ECOA)
Equity
Escrow
Fannie Mae
Farmers Home Administration (FmHA)
Federal Home Loan Bank Board (FHLBB)
Federal Home Loan Mortgage Corporation (FHLMC)
Federal Housing Administration (FHA)
Federal National Mortgage Association (FNMA) also know as "Fannie Mae"
FHA loan
FHA mortgage insurance
FHLMC
Firm Commitment
Fixed Rate Mortgage
FNMA
Foreclosure
Freddie Mac
Ginnie Mae
Government National Mortgage Association (GNMA)
Guaranty
Hazard Insurance
Housing Expenses-to-Income Ratio
Index
Interim Financing
Investor
Jumbo Loan
Lien
Loan-to-Value Ratio
Margin
Market Value
MIP (Mortgage Insurance Premium)
Mortgage Insurance
Mortgagee
Mortgagor
Negative Amortization
Net Effective Income
Non Assumption Clause
Office of Thrift Supervision (OTS)
Origination Fee
PITI
Points (loan discount points)
Power of Attorney
Prepaid Expenses
Prepayment
Prepayment Penalty
Primary Mortgage Market
Principal
Private Mortgage Insurance (PMI)
Realtor
Recision
Recording Fees
Refinance
RESPA
Second Mortgage
Secondary Mortgage Market
Servicing
Settlement/Settlement Costs
Shared Appreciation Mortgage (SAM)
Simple Interest
Survey
Sweat Equity
Title
Title Insurance
Title Search
Truth-In-Lending
Two-Step Mortgage
Underwriting
USURY
VA Loan
Variable Rate Mortgage (VRM)
Verification of Deposit (VOD)
Verification of Employment (VOE)