Mortgage Application
Apply for a free, no-obligation quote from Florida Home Loan
Florida Home Loan offers the best interest rates on mortgage loans with outstanding customer service to
give you a pleasant experience with your re-finance,
home equity loan or new home purchase.

Give us a chance to prove it by clicking here.
Start

Glossary of Terms > P > PREPAYMENT

PREPAYMENT

An amount paid to reduce the principal of a loan before its due date. Payment in full on a mortgage may result from a sale of the property, the owner's decision to pay off the loan in full, or foreclosure. In any case, prepayment means any payment occurring before the loan has fully amortized.

P Terms

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