July 23, 2008
Home
About 1st Choice
Contact Us
View Your Broker
Testimonials
Today’s Market
Mortgage Programs
Credit Concerns
Documents Needed
Media
Mortgage Terms
Calculators
Links
3/1, 5/1, 7/1 and 10/1 ARMs
7/23 and 5/25 Mortgages
Acceleration
Adjustable rate mortgage (ARM)
Adjusted Basis
Adjustment Date
Adjustment interval
Adjustment Period
Affordability Analysis
Amortization
Amortization Term
Annual percentage rate (A.P.R.)
Appraisal
Appraised Value
Assessment
Assignment
Assumability
Assumption
Assumption Fee
Balloon Mortgage
Balloon Payment
Biweekly Payment Mortgage
Blanket Mortgage
Borrower (Mortgagor)
Bridge Loan
Broker
Buy-down
Caps (interest)
Caps (payment)
Cash Flow
Certificate of Eligibility
Certificate of Reasonable Value (CRV)
Certificate of veteran status
Change Frequency
Closing
Closing Costs
COFI
Construction loan
Consumer Reporting Agency (or Bureau)
Contract sale or deed:
Conventional loan
Conversion Clause
Credit Report
Credit Risk Score
Debt-to-Income Ratio
Deed of trust
Default
Deferred interest
Delinquency
Department of Veterans Affairs (VA)
Discount Point
Down Payment
Due-on-Sale-Clause
Earnest Money
Entitlement
Equal Credit Opportunity Act (ECOA)
Equity
Escrow
Escrow Disbursements
Escrow Payment
Fannie Mae
Farmers Home Administration (FmHA)
Federal Home Loan Bank Board (FHLBB)
Federal Home Loan Mortgage Corporation(FHLMC) also called Freddie Mac
Federal Housing Administration (FHA)
Federal National Mortgage Association (FNMA) also know as Fannie Mae
FHA loan
FHA mortgage insurance
FHLMC
Firm Commitment
First Mortgage
Fixed Installment
Fixed Rate Mortgage
FNMA
Foreclosure
Freddie Mac
Fully Amortized ARM
Ginnie Mae
Government National Mortgage Association (GNMA)
Graduated Payment Mortgage (GPM)
Growing-Equity Mortgage (GEM)
Guarantee Mortgage
Guaranty
Hazard Insurance
Housing Expenses-to-Income Ratio
HUD-1 statement
Impound
Index
Indexed rate
Initial Interest Rate
Installment
Insured Mortgage
Interest
Interest Accrual Rate
Interest Rate Buydown Plan
Interest Rate Ceiling
Interest Rate Floor
Interim Financing
Investor
Jumbo Loan
Late Charge
Lease-Purchase Mortgage Loan
Liabilities
Lien
Lifetime Payment Cap
Lifetime Rate Cap
Loan
Loan-to-Value Ratio
Lock
Margin
Market Value
Maturity
MIP (Mortgage Insurance Premium)
Monthly Fixed Installment
Mortgage
Mortgage Banker
Mortgage Broker
Mortgage Insurance
Mortgage Life Insurance
Mortgage Terminology
Mortgagee
Mortgagor
Negative Amortization
Net Effective Income
Non Assumption Clause
Note
Office of Thrift Supervision (OTS)
One-year adjustable
Origination Fee
Owner Financing
Payment Change Date
Periodic Payment Cap
Periodic Rate Cap
Permanent Loan
PITI
Pledged account Mortgage (PAM):
Points (loan discount points)
Power of Attorney
Pre-Approval
Prepaid Expenses
Prepayment
Prepayment Penalty
Primary Mortgage Market
Principal
Principal Balance
Principal, Interest, Taxes, and Insurance (PITI)
Private Mortgage Insurance (PMI)
Qualifying Ratios
Rate Lock
Real Estate Agent
Real Estate Settlement Procedures Act (RESPA)
Realtor®
Recission
Recording Fees
Refinance
Renegotiable Rate Mortgage
RESPA
Reverse Annuity Mortgage (RAM)
Revolving Liability
Satisfaction of Mortgage
Second Mortgage
Secondary Mortgage Market
Security
Seller Carry-back
Servicer
Servicing
Settlement/Settlement Costs
Shared Appreciation Mortgage (SAM)
Simple Interest
Standard Payment Calculation
Step-Rate Mortgage
Survey
Sweat Equity
Third-party Origination
Title
Title Insurance
Title Search
Total Expense Ratio
Truth-In-Lending
Two-Step Mortgage
Underwriting
Usury
VA Loan
VA Mortgage Funding Fee
Variable Rate Mortgage (VRM)
Verification of Deposit (VOD)
Verification of Employment (VOE)
Warehouse Fee
Wraparound mortgage
Home
.
About 1st Choice
.
Contact Us
.
View Your Broker
.
Today’s Market
.
Popular Topics
.
Mortgage Programs
.
Credit Concerns
.
Documents Needed
.
Mortgage Terms
.
Calculators
.
Links