Glossary of Terms
1
1031 EXCHANGE
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A
ACCELERATION CLAUSE
ADJUSTABLE-RATE MORTGAGE (ARM)
ALT-A MORTGAGE
AMORTIZATION
ANNUAL PERCENTAGE RATE (APR)
APPLICATION
APPRAISAL
APPRAISER
APPRECIATION
ASKING PRICE
ASSESSMENT
ASSETS
ASSIGNMENT
ASSUMABLE MORTGAGE
ASSUMPTION
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B
BALLOON MORTGAGE
BANKRUPTCY
BI-WEEKLY MORTGAGE
BILL OF SALE
BRIDGE LOAN
BROKER
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C
CAP
CAPTIAL GAINS
CASH-OUT REFINANCE
CHAIN OF TITLE
CLEAR TITLE
CLOSING
CLOSING COSTS
CLOUDS
COLLATERAL
COMMISSION
COMPARABLE SALES (COMPS)
CONDO ASSOCIATION
CONDOMINIUM
CONDOTEL
CONTINGENCY
CONTRACT
CONVENTIONAL LOAN
CONVERTIBLE ADJUSTABLE-RATE MORTGAGE (ARM)
CONVEYANCE
CREDIT
CREDIT REPORT
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D
DAYS ON MARKET
DEBT-TO-INCOME (DTI) RATIO
DEED
DEED OF TRUST
DEED-IN-LIEU
DEFAULT
DELINQUENCY
DEPOSIT
DEPRECIATION
DISCOUNT POINTS
DOWN PAYMENT
DUE-ON-SALE PROVISION
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E
EARNEST MONEY DEPOSIT (EMD)
EASEMENT
EFFECTIVE AGE
EMINENT DOMAIN
ENCROACHMENT
EQUITY
ESCROW
EXAMINATION OF TITLE
EXCLUSIVE LISTING
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F
FAIR MARKET VALUE (FMV)
FANNIE MAE (FNMA)
FEDERAL EMERGENCY MANAGEMENT AGENCY
FEDERAL HOUSING ADMINISTRATION (FHA)
FEDERAL RESERVE
FHA MORTGAGE
FIRST MORTGAGE
FIXED-RATE MORTGAGE
FLIPPING
FLOOD INSURANCE
FOR SALE BY OWNER
FORECLOSURE
FREDDIE MAC
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G
GOOD FAITH ESTIMATE
GOVERNMENT LOAN / MORTGAGE
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION
GRANTEE
GRANTOR
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H
HAZARD INSURANCE
HOME EQUITY
HOME EQUITY LINE OF CREDIT
HOME INSPECTION
HOMEOWNER'S INSURANCE
HOMEOWNER'S WARRANTY
HOMEOWNERS' ASSOCIATION (HOA)
HOUSING AND URBAN DEVELOPMENT
HYBRID ARMs
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I
IMPACT FEE
INFLATION
INTEREST RATES
INTEREST-ONLY MORTGAGE
INVESTMENT LOAN
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J
JUMBO LOANS
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L
LEASE
LEASE OPTION
LIABILITIES
LIEN
LIFE CAP
LINE OF CREDIT
LIQUID ASSETS
LIS PENDENS
LISTING PRICE
LOAN
LOAN OFFICER
LOAN ORIGINATION
LOAN SERVICING
LOAN-TO-VALUE (LTV)
LOCK-IN
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M
MATURITY
MEDIAN PRICE
MILL RATE
MIXED-USE
MODIFICATION
MORTGAGE
MORTGAGE BROKER
MORTGAGE INSURANCE (MI)
MORTGAGE LIFE / DISABILITY INSURANCE
MORTGAGEE
MORTGAGOR
MULTI-FAMILY HOME
MULTIPLE LISTING SERVICE
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N
NEGATIVE AMORTIZATION
NO DOC LOANS
NO-COST LOAN
NO-MONEY-DOWN MORTGAGE
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O
OPTION ADJUSTABLE RATE MORTGAGE
ORIGINAL PRINCIPAL BALANCE
ORIGINATION FEE
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P
PAYMENT CHANGE DATE
PERIODIC PAYMENT CAP
PERIODIC RATE CAP
PIGGYBACK LOAN
PITI
POINTS
PRE-APPROVAL
PRE-QUALIFICATION
PRECONSTRUCTION
PREPAYMENT
PREPAYMENT PENALTY
PRIME RATE
PRINCIPAL
PRINCIPAL, INTEREST, TAXES & INSURANCE (PITI)
PRIVATE MORTGAGE INSURANCE (PMI)
PROBATE
PROMISSORY NOTE
PROPERTY TAX
PURCHASE AGREEMENT
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Q
QUALIFYING RATIO
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R
REAL ESTATE
REAL ESTATE AGENT
REAL ESTATE DEVELOPER
REAL ESTATE INVESTMENT TRUST
REALTOR
RECORDER
REFINANCING
REINSURANCE
REMAINING TERM
RENTER'S INSURANCE
RESERVES
REVERSE MORTGAGE
REVOLVING DEBT
RIGHT OF FIRST REFUSAL
RIGHT OF INGRESS
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S
SECOND MORTGAGE
SECONDARY MARKET
SECURED LOAN
SERVICING
SINGLE-FAMILY HOME
SMART LOANS
SUBPRIME LENDING
SURVEY
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T
TIMESHARE
TITLE
TITLE INSURANCE
TRANSFER OF OWNERSHIP
TREASURY INDEX
TRUTH-IN-LENDING
TWO-STEP MORTGAGE
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U
UNDERWRITING
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V
VA LOAN / MORTGAGE
VESTING
VETERANS ADMINISTRATION (VA)
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W
WIND INSURANCE
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Z
ZONING
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