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Resources
Glossary
Mortgage Glossary
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A
Acceleration Clause
Acceptance
Adjustable-rate Mortgage (ARM)
Adjustment Date
Adjustment Period
Amortization
Amortization Schedule
Appraisal
Appraised Value
Appreciation
Assessed Value
Asset
Assignment
Assumable Mortgage
Assumption Agreement
B
Bi-weekly Accelerated Payments
Bi-weekly Accelerated Payments
Bi-weekly Payments
Bi-weekly Payments
Blended Payments
Building Code
Building Code
C
Cap
Cap
Capital Expenditure
Capital Expenditure
Capital Improvement
Capital Improvement
Certificate of Title
Chattel
Closed Mortgage
Closing
Closing Costs
Commission
Compound Interest
Conditional Offer
Condominium
Contingency
Conventional Mortgage
Convertible mortgage
D
Debt-service Ratio
Default
Default
Depreciation
Discharge
Down Payment
E
Easement
Effective Interest Rate
Encroachment
Encumbrance
Equity
Escrow
Examination of Title
Exclusive Listing
F
Fair Market Value
Firm Commitment
First Mortgage
Fixed Installment
Fixed-rate Mortgage (FRM)
Fixture
Flood Insurance
Flood Insurance
Foreclosure
G
Gross Debt Service Ratio
H
High Ratio Mortgage
Home Equity Line of Credit
Home Inspection
I
Income Property
Initial Interest Rate
Installment
J
Joint Tenancy
Joint Tenancy
L
Lease
Lien
Lien
Line of Credit
Line of Credit
Lock-in
Lock-in Period
M
Margin
Maturity
Mortgage Insurance Premium
Mortgage Life Insurance
Mortgage Loan Insurance
Mortgagee
Mortgagor
N
Negative Amortization
Notice of Default
O
Open Mortgage
Original Principal Balance
Origination Fee
Owner Financing
P
P.I. (Principal & Interest)
P.l.T. (Principal, Interest, & Taxes)
Payment Change Date
Penalty
Pre-approved Mortgage
Pre-qualification
Prepayment
Prepayment Option
Prepayment Penalty
Prime Rate
Principal
Purchase and Sale Agreement
Q
Qualifying Ratios
Quitclaim Deed
R
Rate (interest)
Recission
Refinance Transaction
Right of First Refusal
Roll-over Mortgage
S
Second Mortgage
Semi-monthly Payments
Survey
T
Term
Title
Title Insurance
Title Search
Trustee
U
Underwriting
Underwriting
Underwriting Fees
Unsecured Loan
V
Variable Rate Mortgage (Floating Rate)
Vendor Financing (Balance of Sale)
Vendor-Take-Back
W
Weekly Accelerated Payments
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