Mortgage terminology
Get clarity on the unique language of mortgage loans
ARM vs. fixed-rate mortgage: What’s the difference?
ARMs (adjustable-rate mortgages) and fixed-rate mortgages have distinct pros and cons depending on your goals. Learn the key differences and how to decide.
Debt-to-income ratio (DTI): What is it and how is it calculated?
Your debt-to-income ratio measures the difference between your obligations and your income. Learn how to calculate DTI and what it means for mortgages.
Featured resources
10-minute read
What is a mortgage? Loan basics for beginners
Mortgages are loans that allow you to purchase a home. The right loan for you may depend on your preferred down payment, interest terms, and more.
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8-minute read
What is a dry closing in real estate?
In a dry closing, everything but the payment is completed at closing. Learn how dry closings work, what risks are involved, and what states allow dry funding.
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4-minute read
What is a desktop appraisal and how does it work?
A desktop appraisal is a property valuation that is completed remotely by a professional appraiser. Find out whether a desktop appraisal is right for you.
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5-minute read
What you should know about tri-merge credit reports
Mortgage lenders use many factors when approving you for a mortgage, including the contents of a tri-merge credit report. This report contains your scores.
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8-minute read
What is an encumbrance in real estate?
Encumbrances limit the ways in which you can use your property. They range from zoning laws to utility easements, and some are inextricably tied to the land.
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13-minute read
What does contingent mean?
In real estate, “contingent” means that certain conditions must be met before the sale closes. Learn how contingencies protect all parties involved.
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