Mortgage and Real Estate Terms

A

1. Acceleration Clause
2. Acceptance
3. Additional Principal Payment
4. Adjustable-Rate Mortgage (ARM)
5. Adjusted Basis
6. Adjustment Date
7. Adjustment Period
8. Administrator
9. Affidavits
10. Affordability Analysis
11. Amenity
12. Amortization
13. Amortization Schedule
14. Amortization Term
15. Amortize
16. Annual Mortgagor Statement
17. Annual Percentage Rate (APR)
18. Annuity
19. Application
20. Appraisal
21. Appraised Value
22. Appraiser
23. Appreciation
24. Assessed Value
25. Assessment
26. Assessment Rolls
27. Assessor
28. Asset
29. Assignment
30. Assumable Mortgage
31. Assumption
32. Assumption Clause
33. Assumption Fee
34. Attorney-in-fact
35. Automated Underwriting


B

1. Balance Sheet
2. Balloon Mortgage
3. Balloon Payment
4. Bankrupt
5. Bankruptcy
6. Before-Tax Income
7. Beneficiary
8. Bequeath
9. Betterment
10. Bill of Sale
11. Binder
12. Biweekly Mortgages
13. Biweekly Payment Mortgage
14. Blanket Insurance Policy
15. Blanket Mortgage
16. Bona Fide
17. Bond
18. Breach
19. Bridge Loan
20. Broker
21. Budget
22. Budget Category
23. Building Code
24. Buydown Account
25. Buydown Mortgage


C

1. Call Option
2. Cap
3. Capacity
4. Capital
5. Capital Expenditure
6. Capital Improvement
7. CD-Indexed (Certificate of Deposit) ARMs
8. Certificate of Deposit
9. Certificate of Deposit Index
10. Certificate of Eligibility
11. Certificate of Reasonable Value (CRV)
12. Certificate of Title
13. Chain of Title
14. Change Frequency
15. Change Orders
16. Chattel
17. Clear Title
18. Closing
19. Closing Agent
20. Closing Cost Item
21. Closing Costs
22. Closing Date
23. Co-Maker
24. Coinsurance
25. Coinsurance Clause
26. Collateral
27. Collection
28. Commercial Banks
29. Commission
30. Commitment Letter
31. Common Area Assessments
32. Common Areas
33. Common Law
34. Community Land Trust Mortgage Option
35. Community Property
36. Community Seconds
37. Comparables
38. Compound Interest
39. Condemnation
40. Condition of the Home
41. Condominium
42. Condominium Conversion
43. Condominium Hotel
44. Construction Contract
45. Construction Loan
46. Contingencies for Repairs
47. Contigency
48. Contigency for Clear Title
49. Contigency for Financing
50. Contigency for Personal Property
51. Contigency Reserve
52. Contract
53. Contractor
54. Conventional Mortgage
55. Convertibility Clause
56. Convertible ARM
57. Cooperative (co-op)
58. Cooperative Corporation
59. Cooperative Mortgages
60. Cooperative Project
61. Corporate Relocation
62. Cost of Funds Index (COFI)
63. Costs for Settling Into Your Home
64. Covenant
65. Credit
66. Credit Bureau
67. Credit History
68. Credit Life Insurance
69. Credit Profile
70. Credit Report
71. Credit Report Fee
72. Credit Reporting Agency
73. Credit Repository
74. Credit Scoring
75. Credit Unions
76. Creditor
77. Cash-Out Refinance
78. Cloud on Title


D

1. Debt
2. Deed
3. Deed of Trust
4.
5. Delinquency
6. Department of Veternas Affairs (VA)
7. Deposit
8. Depreciation
9. Discount Points
10. Detached Single-Family Home
11. Direct Leveraging Loan Program
12. Down Payment
13. Dower
14. Due-on-sale Provision
15. Due-on-transfer Provision
16. Deed-in-Lieu


E

1. Equal Credit Opportunity Act (ECOA)
2. Earnest Money Deposit
3. Easement
4. Effective Age
5. Effective Gross Income
6. Eminent Domain
7. Encroachment
8. Encumbrance
9. Endorser
10. Equity
11. Errors in Credit Report
12. Escrow
13. Escrow Account
14. Escrow Analysis
15. Escrow Collections
16. Escrow Disbursements
17. Estate
18. Escrow Payment
19. Establishing a Credit Report
20. Eviction
21. Examination of Title
22. Exclusive Listing
23. Executor


F

1. Fair Credit Reporting Act
2. Fair Market Value
3. Fannie Mae (FNMA)
4. Federal Housing Administration (FHA)
5. Fee Simple
6. Fee Simple Estate
7. FHA Coinsured Mortgage
8. FHA Loans
9. FHA Mortgage
10. Final Walk-Through Inspection
11. Firm Commitment
12. Financial Index
13. Finder's Fee
14. First Mortgage
15. First and Second Mortgages
16. Fixed Installment
17. Fixed-Rate Mortgage
18. Fixed-Period Adjustable-Rate Mortgages
19. Fixture
20. Flood Insurance
21. Foreclosure
22. Forfeiture
23. Fully Amortized ARM


G

1. General Contractor
2. Good Faith Estimate
3. Governmnet Mortgage
4. Government National Mortgage Association
5. Grantee
6. Grantor
7. Ground Rent
8. Group Home
9. Growing-Equity Mortgage (GEM)
10. Guarantee Mortgage
11. Guaranteed Loan


H

1. Hazard Insurance
2. Home Equity Conversion Mortgage (HECM)
3. Home Equity Line of Credit
4. Home Inspection
5. Homeowner's Insurance
6. Homeowner's Insurance for Reverse Mortgages
7. Homeowners' Association
8. Homeowner's Warranty (HOW)
9. HomeStyle Construction-to-Permanent Mortgage
10. HomeStyle Mortgage Loan
11. Housing Expense Ratio
12. HUD-1 Statement
13. HUD Median Income


I

1. In-File Credit Report
2. Income Property
3. Index
4. Inflation
5. Initial Interest Rate
6. Installment
7. Installment Loan
8. Insurable title
9. Insurance
10. Insurance Binder
11. Insured Mortgage
12. Interest
13. Interest Accrual Rate
14. Interest Rate
15. Interest Rate Buydown Plan
16. Interest Rate Ceiling
17. Interest Rate Floor
18. Interest Rate for HECMs
19. InterestFirstSM Mortgage
20. Investment Property
21. IRA (Individual Retirement Account)


J

1. Joint Tenancy
2. Judgment
3. Judgment Lien
4. Judicial Foreclosure
5. Jumbo Loan


L

1. Late Charge
2. Lease
3. Lease-purchase Mortgage Loan
4. Lease-purchase Option
5. Leasehold Estate
6. Legal Description
7. Liabilities
8. Liability Insurance
9. LIBOR-based ARMs
10. Lien
11. Lifetime Payment Cap
12. Lifetime Rate Cap
13. Line of Credit
14. Liquid Asset
15. Loan
16. Loan Application
17. Loan Commitment
18. Loan Limit
19. Loan Origination
20. Loan Origination Fee
21. Loan Terms and Conditions
22. Loan-To-Value (LTV) Percentage
23. Lock-in
24. Lock-in Period


M

1. Manufactured Housing
2. Margin
3. Market Value
4. Master Association
5. Maturity
6. Maximum Claim Amount
7. Maximum Financing
8. Merged Credit Report
9. Modification
10. Money Market Account
11. Money Market Fund
12. Monthly Fixed Installment
13. Monthly Payment Mortgage
14. Mortgage
15. Mortgage Banker
16. Mortgage Banking Companies
17. Mortgage Broker
18. Mortgage Insurance
19. Mortgage Insurance Premium (MIP)
20. Mortgage Life Insurance
21. Mortgage-Related Closing Costs
22. Mortgagee
23. Mortgagor
24. Multidwelling Units
25. Multifamily Properties
26. Multifamily Mortgage


N

1. Negative Amortization
2. No Cash-Out Refinance
3. Net Cash Flow
4. Note
5. Nonliquid Asset
6. Note Rate
7. Notice of Default


O

1. Occupancy Date
2. Offer
3. Ongoing Costs
4. One-Year Adjustable-Rate Mortgage
5. Original Principal Balance
6. Origination Fee
7. Other Buyer Costs
8. Other Contingencies
9. Other Financial Companies
10. Owner Financing


P

1. Planned Unit Development (PUD)
2. Partial Payment
3. Payment Change Date
4. Periodic Payment Cap
5. Periodic Rate Cap
6. Permits
7. Personal Property
8. PITI
9. PITI Reserves
10. Planned Unit Development (PUD)
11. Point
12. Power of Attorney
13. Pre-Approval
14. Pre-Qualification
15. Prearranged Refinancing Agreement
16. Preforeclosure Sale
17. Prepayment
18. Prepayment Penalty
19. Prime Rate
20. Principal
21. Principal Balance
22. Private Mortgage Insurance (PMI)
23. Promissory Mote
24. Public Auction
25. Purchase and Sale Agreement
26. Purchase Money Transaction


Q

1. Qualifying Ratios
2. Quitclaim Deed
3. Qualifying Guidelines


R

1. Real Estate Settlement Procedures Act (RESPA)
2. Realtor
3. Radon
4. Rate Caps
5. Rate-Improvement Mortgage
6. Rate Lock
7. Ratified Sales Contract
8. Real Estate Agent
9. Real Estate Attrorney
10. Real Property
11. Recorder
12. Recission
13. Recording
14. Refinance Transaction
15. Rehabilitation Escrow Account
16. Rehabilitation Mortgage
17. Remaining Balance
18. Remaining Term
19. Rent Loss Insurance
20. Rent with Option to Buy
21. Repayment Plan
22. Replacement Reserve Fund
23. Reverse Mortgage Counseling
24. Revolving Liability
25. RHS Loans
26. Right of First Refusal
27. Right of Ingress or Engress
28. Right of Survivorship
29. Rural Housing Service (RHS)


S

1. Sale-Leaseback
2. Second Mortgage
3. Secondary Mortgage Market
4. Savings and Loans
5. Secured Loan
6. Security
7. Seller Take-Back
8. Servicer
9. Seller Versus Buyer Closing Costs
10. Servicing
11. Settlement
12. Settlement Sheet
13. Single-Family Properties
14. Six-Month Adjustable-Rate Mortgage
15. Special Deposit Account
16. Standard Payment Calculation
17. Subdivision
18. Step-Rate Mortgage
19. Subordinate Financing
20. Subsidized Second Mortgage
21. Survey
22. Sweat Equity


T

1. Truth-in-Lending
2. Taxes and Insurance
3. Tenancy in Common
4. Tenancy by the Entirety
5. Tenant-Stockholder
6. Termite Inspection
7. Third-Party Origination
8. Thrifts
9. Title
10. Title Search
11. Title Company
12. Title Insurance
13. Total Expense Ratio
14. Transfer of Ownership
15. Townhouse
16. Trade Equity
17. Transfer Tax
18. Treasury Index
19. Trustee
20. Truth-in-Lending
21. Two-Step Mortgage
22. Two-to Four-Family Property


U

1. Underwriting
2. Unsecured Loan


V

1. VA Mortgage
2. Vested
3. Veterans Administration (VA)


W

1. Ways of Obtaining a Loan
2. What-if Analysis
3. Wraparound Mortgage
4. What-if Scenario

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