Real Estate and Mortgage Glossary & Definitions
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letter or the word
- acceleration clause
- adjustable-rate mortgage (ARM)
- adjustment date
- amortization
- amortization schedule
- annual percentage rate (APR)
- application
- appraisal
- appraised value
- appraiser
- appreciation
- assessed value
- assessment
- assessor
- asset
- assignment
- assumable mortgage
- assumption
- balloon mortgage
- balloon payment
- bankruptcy
- bill of sale
- biweekly mortgage
- bond market
- bridge loan
- broker
- buydown
- call option
- cap
- cash-out refinance
- certificate of deposit
- certificate of deposit index
- Certificate of Eligibility
- Certificate of Reasonable Value (CRV)
- chain of title
- clear title
- closing
- closing costs
- co-borrower
- collateral
- collection
- commission
- common area assessments
- common areas
- common law
- community property
- comparable sales
- condominium
- condominium conversion
- condominium hotel
- construction loan
- contingency
- contract
- conventional mortgage
- convertible ARM
- cooperative (co-op)
- cost of funds index (COFI)
- credit
- credit history
- creditor
- credit report
- credit repository
- debt
- deed
- deed-in-lieu
- default
- delinquency
- deposit
- depreciation
- discount points
- down payment
- due-on-sale provision
- earnest money deposit
- easement
- effective age
- eminent domain
- encroachment
- encumbrance
- Equal Credit Opportunity Act (ECOA)
- equity
- escrow
- escrow account
- escrow analysis
- escrow disbursements
- estate
- eviction
- examination of title
- exclusive listing
- executor
- Fair Credit Reporting Act
- fair market value
- Fannie Mae (FNMA)
- Federal Housing Administration (FHA)
- fee simple
- fee simple estate
- FHA mortgage
- firm commitment
- first mortgage
- fixed-rate mortgage
- fixture
- flood insurance
- foreclosure
- 401(k)/403(b)
- 401(k)/403(b) loan
- government loan (mortgage)
- Government National Mortgage Association (Ginnie Mae)
- grantee
- grantor
- hazard insurance
- Home Equity Conversion Mortgage (HECM)
- home equity line of credit
- home inspection
- homeowners' association
- homeowner's insurance
- homeowner's warranty
- HUD median income
- HUD-1 settlement statement
- joint tenancy
- judgment
- judicial foreclosure
- jumbo loan
- late charge
- lease
- leasehold estate
- lease option
- legal description
- lender
- liabilities
- liability insurance
- lien
- life cap
- line of credit
- liquid asset
- loan
- loan officer
- loan origination
- loan servicing
- loan-to-value (LTV)
- lock-in
- lock-in period
- margin
- maturity
- merged credit report
- modification
- mortgage
- mortgage banker
- mortgage broker
- mortgagee
- mortgage insurance (MI)
- mortgage insurance premium (MIP)
- mortgage life and disability insurance
- mortgagor
- multidwelling units
- negative amortization
- no cash-out refinance
- no-cost loan
- note
- note rate
- no-cost loan
- notice of default
- original principal balance
- origination fee
- owner financing
- partial payment
- payment change date
- periodic payment cap
- periodic rate cap
- personal property
- PITI
- PITI reserves
- planned unit development (PUD)
- point
- power of attorney
- pre-approval
- prepayment
- prepayment penalty
- pre-qualification
- prime rate
- principal
- principal balance
- principal, interest, taxes, and insurance (PITI)
- private mortgage insurance (MI)
- promissory note
- public auction
- PUD (Planned Unit Development)
- purchase agreement
- purchase money transaction
- qualifying ratios
- quitclaim deed
- rate lock
- real estate agent
- Real Estate Settlement Procedures Act (RESPA)
- real property
- Realtor®
- recorder
- recording
- refinance transaction
- remaining balance
- remaining term
- rent loss insurance
- repayment plan
- replacement reserve fund
- revolving debt
- right of first refusal
- right of ingress or egress
- right of survivorship
- sale-leaseback
- second mortgage
- secondary market
- secured loan
- security
- seller carry-back
- servicer
- servicing
- settlement statement
- subdivision
- subordinate financing
- survey
- sweat equity
- tenancy in common
- third-party origination
- title
- title company
- title insurance
- title search
- transfer of ownership
- transfer tax
- Treasury index
- Truth-in-Lending
- two-step mortgage
- two- to four-family property
- trustee
- VA mortgage
- vested
- Veterans Administration (VA)
