Glossary

Abandonment
Abatement
Absentee Landlord
Absentee Owner
Abstract
Abstract of Title
Acceleration Clause
Accrued Interest
Acre
Addendum
Adjusted Sale Price
Ad Valorem
A-Frame
Alienation clause
Alternative Financing
Balance Sheet
Balloon Mortgage
Balloon Payment
Bankrupt
Bankruptcy
Before-Tax Income
Beneficiary
Binder
Biweekly Payment Mortgage
Bond
Breach
Bridge Loan
Broker
Buy-down Mortgage
Call Option
Cap
Capital Improvement
Cash-out Refinance
Certificate of Reasonable Value (CRV)
Certificate of Title
Chain of Title
Change Frequency
Clear Title
Closing
Closing Costs
Closing Statement
Cloud on Title
Collateral
Collection
Co-maker
Commission
Commitment Letter
Common Areas
Community Property
Comparables
Condominium
Condominium Conversion
Construction Loan
Consumer Reporting Agency
Contingency
Contract
Convertibility Clause
Cooperative (co-op)
Cost of Funds Index (COFI)
Covenant
Credit
Credit History
Credit Report
Credit Repository
Debt
Deed
Deed-in-Lieu
Deed of Trust
Default
Delinquency
Deposit
Depreciation
Down Payment
Due-on-Sale Provision
Easement
Effective Age
Effective Gross Income
Encumbrance
Endorser
Equal Credit Opportunity Act (ECOA)
Equity
Estate
Eviction
Examination of Title
Fair Credit Reporting Act
Fair Market Value
Fee Simple
First Mortgage
Fixed-Rate Mortgage (FRM)
Flood Insurance
Foreclosure
Good Faith Estimate
Hazard Insurance
Lien
Loan to Value Ratio (LTV)
Mortgage
Mortgagee
Mortgagor
Note
Planned Unit Developments (PUD)
PITI
Points
Prepaids
Prepayment Penalty
Principal
Qualifying Ratios
Rebate
Refinancing
Residential Mortgage Credit Report (RMCR)
Survey
Title
Title Insurance
Title Search
Total Debt Ratio
Truth-in-Lending Act

Glossary Of Terms

"A" credit customers
Acceleration Clause
Accounts Payable
Accounts Receivable
Accounts Receivable Aging Report
Advance Rate
Amortization
Articles of Incorporation
Asset
Adjustable-Rate Mortgage (ARM)
Amortization
Amortization Schedule
Annual Percentage Rate (APR)
Appraisal
Appreciation
Assessed Value
Assumable Mortgage
Assumption
Binder
Cap
Cash Reserve
Clear Title
Closing
Closing Costs
Commitment Letter
Condominium
Contingency
Conventional Mortgage
Convertible ARM
Covenant
Credit Report
Deed
Deed of Trust
Default
Delinquency
Deposit
Depreciation
Discount Points
Down Payment
Due-on-Sale Clause
Earnest Money
Easement
Equal Credit Opportunity Act
Equity
Escrow
Fair Credit Reporting Act
First Mortgage
Fixed-Rate Mortgage
Foreclosure
Graduated-Payment Mortgage
Hazard Insurance
Homeowner's Insurance
Homeowner's Warranty
HUD-1 Statement
Interest
Interest Rate Cap
Joint Tenancy
Late Charge
Lease-Purchase Mortgage Loan
Lien
Lifetime Cap
Loan Servicing
Loan-to-Value Percentage
Lock-in
Mortgage
Mortgage Banker
Mortgage Broker
Mortgagee
Mortgage Insurance
Mortgage Insurance Premium
Mortgagor
Negative Amortization
Notice of Default
Origination Fee
Owner Financing
Payment Cap
PITI
Planned Unit Development (PUD)
Prepaids
Prepayment Penalty
Pre-Qualification
Principal
Private Mortgage Insurance (PMI)
Purchase and Sale Agreement
Qualifying Ratios
Radon
Rate Lock
Real Estate Agent
Real Estate Settlement Procedures Act
Refinancing
Rent With Option To Buy
Second Mortgage
Secondary Mortgage Market
Seller Take-Back
Settlement
Settlement Statement
Survey
Tenancy by Entirety
Tenancy in Common
Title
Title Company
Title Insurance
Title Search
Transfer Tax
Truth-in-Lending Act
Underwriting
VA Loan