A comprehensive glossary of mortgage, real estate, and Florida-specific terms. Written in plain English by licensed mortgage professionals.
Browse by Category
- Loan Types: Amortization, Conforming Loan, Jumbo Loan, Non-QM, APR, Points
- Closing Process: Closing Costs, Escrow, Appraisal, Pre-Approval, Title Insurance, Seller Concessions
- Florida Terms: Documentary Stamp Tax, Intangible Tax, Homestead Exemption, Wind Mitigation
- Credit & Qualification: FICO Score, DTI, LTV, PMI, MIP, PITI
- Investment: DSCR, 1031 Exchange
- Legal: Lis Pendens
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Every term, A to Z
All 109 terms in one place. Each links to a plain-English definition.
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A
Adjustable-rate mortgage (ARM), Amortization, Appraisal, Appreciation, APR (Annual Percentage Rate)
C
Cash reserve, Cash to close, Cash-out refinance, Close of escrow, Closing, Closing Costs, Closing disclosure, Co-applicant, Co-borrower, Collateral, Comparable sale/comp, Condo insurance, Condominium (condo), Conforming Loan, Contingency, Conventional mortgage, Cooperative/co-op, Credit check, Credit score, Credits/lender credits
D
Debt-to-income ratio (DTI), Default, Depreciation, Documentary Stamp Tax, Down payment, DSCR (Debt Service Coverage Ratio), DTI (Debt-to-Income Ratio)
E
Earnest money/good faith deposit, Equity, Escrow, Escrow/impounds
F
Fannie Mae, Federal Housing Administration loans, FICO Score, Fixed-rate mortgage, Flood certification, Flood insurance, Foreclosure, Freddie Mac
G
H
Home inspection, Homeowners association (HOA), Homeowners insurance, Homestead Exemption
I
Intangible Tax, Interest rate, Investment property
J
L
Lien, Lis Pendens, Listing agent, Loan commitment, Loan estimate (LE), Loan Processor, Loan term, Loan-to-value (LTV), LTV (Loan-to-Value Ratio)
M
Market value, MIP (Mortgage Insurance Premium), Mortgage note
N
Negative amortization, Non-QM (Non-Qualified Mortgage), Nonconforming loan, Notice of default
O
Occupancy date, Origination fee/loan origination fee, Owner-occupancy
P
Pest inspection, PITI (Principal, Interest, Taxes, Insurance), Planned unit development (PUD), PMI (Private Mortgage Insurance), Points, Points (Discount Points), Pre-Approval, Pre-approval letter, Prepaid costs, Prepayment penalty, Primary residence, Principal, Purchase contract
Q
R
Rate lock, Real estate agent, Refinance
S
Secondary home, Seller Concessions, Settlement costs, Short sale, Survey
T
Termite letter, Third-party fees, Title, Title Insurance, Title vesting, Transfer taxes
U
V
VA loans, Verified pre-approval
W
Walk-through, Wind Mitigation, Wire transfer