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Purchase Refinance Cash-out

Mortgage Dictionary


INDEX OF COMMONLY USED
MORTGAGE & REAL ESTATE TERMS

Mortgage terminology.  Loan jargon.  The language used in the loan process can be confusing if you're new to it.  This dictionary is your one-stop resource for user-friendly definitions to our most commonly used terms and abbreviations in the world of real estate and finance.

The introduction of new terms, government abbreviations and commonly used real estate and mortgage finance jargon into your vocabulary, should make this a handy reference for you.  It is not necessary that you completely understand all these terms, but the availability of this information on this web site will be very helpful as a reference to you when needed.

While the information contained herein is intended to be useful and timely, it should in no way be viewed as a replacement for professional advice a consumer should seek. For the final word on mortgage instruments and lending practices, talk with your mortgage lender, a lawyer, or other mortgage finance professional.


You can browse by letter or index below

 0-9  A  B  C  D  E  F  G  H  I  J  L  M  N  O  P  Q  R  S  T  U  V  W  Y  Z 

Index:
 

0-9

1003
1040 FEDERAL TAX RETURN

1065 FEDERAL TAX RETURN

1099

1120 FEDERAL TAX RETURN

1ST POSITION LIEN

2-4 UNIT PROPERTY

3 Cs

30-DAY LATES, 60-DAY LATES, ETC.

 

A (APPRAISAL DICTIONARY - (Click Here)
ABSTRACT OF JUDGMENT
ABSTRACT OF TITLE

ACCELERATION CLAUSE
ACCEPTANCE
ACCEPTED FEE APPRAISER PANEL
ACCOUNTS PAYABLE
ACCOUNTS RECEIVABLE
ACCRUED INTEREST
ACKNOWLEDGMENT
ACQUISITION COSTS
ACRE
ACTION TO QUIET TITLE
ADDENDUM
ADJUSTABLE RATE MORTGAGE (ARM)
ADJUSTABLE RATE RIDER
ADJUSTMENT CAP

ADJUSTED GROSS INCOME
AD VALOREM
ADJUSTMENT INTERVAL
ADVERSE POSSESSION
AGENCY
AGENT
AGREEMENT
AGREEMENT OF SALE
ALIENATION CLAUSE

ALIMONY
ALTA
AMENDMENT

AMENITIES
AMERICAN LAND TITLE ASSOCIATION (ALTA)
AMORTIZATION
ANNUAL PERCENTAGE RATE
ANNUITY

APPLICANT
APPLICATION
APPLICATION FEE
APPRAISAL
APPRAISAL AND CREDIT REPORT FEES

APPRAISAL DICTIONARY
APPRAISED VALUE

APPRAISER
APPRECIATION
APR

ARREARS
AS IS CONDITION ASSESSED VALUE
ASSESSMENT
ASSESSMENT BASE
ASSET
ASSIGNMENT
ASSUMABLE MORTGAGE

ASSUMPTION
ASSUMPTION FEE
"AS IS"
A-THRU D CREDIT
ATTACHED HOMES

ATTACHMENT
ATTORNEY CLOSINGS
ATTORNEY IN FACT
ATTORNEY'S OPINION OF TITLE
   (in absence of a title co)


B
BACK-END DEBT RATIO
BALANCE SHEET

BALLOON PAYMENT

BANK
BANKRUPTCY (BK)
BASIS

BASIS POINT
BENEFICIARY
BENEFICIARY'S DEMAND
BILL OF SALE

BINDER
BLANKET MORTGAGE
BOND
BORROWER
BORROWER SAVINGS
BREACH

BRIDGE LOAN
BROKER
BROKERAGE
BUILDING CODE
BUILDING LINE OR SETBACK
BULLET LOAN

BUSINESS FOR SELF (BFS)
BUSINESS LICENSE 

BUYDOWN

C
C C & Rs
CALL OPTION

CANCELED CHECK
CAPACITY
CAPITAL

CAPITAL GAIN
CAPITAL IMPROVEMENT
CAPITAL LOSS
CAPS (INTEREST)
CAPS (PAYMENT)
CASH FLOW
CASH-OUT REFINANCE

CASH RESERVE
CASH VALUE
CASH-OUT
CASH-OUT EXPLANATION LETTER
CASHIER'S CHECK
CAVEAT EMPTOR

CEILING
CERTIFICATE OF OCCUPANCY
CERTIFICATE OF TITLE

CERTIFIED COPY
CESTUI QUE TRUST

CHAIN OF TITLE
CHANGE DATE
CHAPTER 13 BK
CHAPTER 7 BK
CHARGE-OFF
CREDIT AUTHORIZATION LETTER
CREDIT BUREAU
CREDIT DENIAL LETTER
CREDIT DEPTH
CREDIT HISTORY CHATTEL
CHILD SUPPORT
CLAIM

CLEAR TITLE
CLIENT
CLOSING STATEMENT
CLOUD ON TITLE

CLOSING
CLOSING AGENT
CLOSING COSTS
CLOSING DAY

CO-BORROWER OR CO-MAKER
CODE OF ETHICS

COLLATERAL

COLLATERAL LOANS
CO-MAKER

COMBINED LOAN TO VALUE (CLTV)
COMBINED MONTHLY HOUSING EXPENSE
COMMERCIAL BANK

COMMERCIAL LOANS
COMMISSION
COMMITMENT
COMMITMENT FEE
COMMON LAW
COMMUNITY HOME BUYER'S PROGRAM
COMMUNITY HOME BUYER'S PROGRAM
COMMUNITY LAND TRUST MORTGAGE LOAN
COMMERCIAL PROPERTY
COMMUNITY LAND TRUST MORTGAGE LOAN
COMMUNITY PROPERTY
COMPARABLE (COMP)
COMPENSATING FACTORS

COMPOUND INTEREST
CONCESSION
CONDEMNATION

CONDITIONAL COMMITMENT
CONDITIONAL OFFER
CONDOMINIUM (CONDO)
CONDOMINIUM ASSOCIATION

CONFORMING
CONSIDERATION
CONSOLIDATION LOAN
CONSTRUCTION LOAN
CONSTRUCTION LOAN WITH TAKEOUT

CONSUMER CREDIT
CONSUMER REPORTING AGENCY

CONTINGENCY
CONTRACT SALE OR DEED
CONVENTIONAL LOAN
CONVERSION CLAUSE

CONVERSION LOAN
CONVEYANCE
COOPERATIVE

CORPORATION
COSMETIC REPAIR

COST APPROACH
COST BASIS
COST PLUS CONTRACT
COUNTEROFFER
COUNTY
COVENANT
COVENANTS, CONDITIONS AND RESTRICTIONS (C C & R s)
CREDIT LEASE LOAN
CREDIT LENGTH
CREDIT RATING
CREDIT REPORT
CREDIT SCORE
CREDITOR
CURRENT LIBOR INDEX

CUSTOMER


D

DATEDOWN ADDENDUM
DEBT CONSOLIDATION LOAN
DEBT LOAD
DEBT RATIO (DR)

DEBT SERVICE
DEBTOR
DEBT-TO-INCOME RATIO
DECLINING BALANCE
DEDICATION

DEED
DEED IN LIEU
DEED OF RECONVEYANCE
DEED OF RUST
DEED RESTRICTION

DEFAULT
DEFECTIVE TITLE

DEFER
DEFERRED INTEREST
DEFERRED MAINTENANCE
DEFICIENCY JUDGMENT
DELINQUENCY
DEMAND
DEMAND FEATURE

DEPOSIT
DEPRECIATION
DEROG

DEPT OF HOUSING & URBAN DEVELOPMENT (HUD)
DEROG LETTER
DEPT OF VETERANS AFFAIRS (VA)
DEVISE

DEVISEE
DEVISOR
DIRECT ENDORSEMENT
DIRECT REDUCTION MORTGAGE
DISBURSEMENTS
DISCHARGE
DISCLOSURE
DISCOUNT
DISCOUNT POINT
DISCOUNT RATE
DISCRETIONARY INCOME
DISPOSABLE INCOME
DISPOSITION
DIVORCE DECREE
DOCS