Mortgage terminology
Get clarity on the unique language of mortgage loans
Featured articles:
Fixed- vs. adjustable-rate mortgage: What’s the difference?
While shopping for home loans, you’ll need to decide between a fixed-rate or adjustable-rate mortgage. Learn how they differ, and which is better for you.
Debt-to-income ratio (DTI): What is it and how is it calculated?
Your debt-to-income ratio (DTI) measures your total income against any debt you have. Learn what a good DTI is, how to calculate it and how to lower it.
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5-minute read
What is the prime rate and how does it work?
The prime rate is a desirable borrowing interest rate offered by lenders to creditworthy applicants. Here’s what mortgage applicants need to know.
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8-minute read
What are mortgage points and should you buy them?
Mortgage discount points can be purchased to lower the interest rate on a new loan. Use this guide to help you decide if you should buy them.
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10-minute read
What is a short sale in real estate? A guide to the process
A short sale may be a solution when a homeowner is in a dire financial situation and needs to sell their home for less than they owe. Learn about this option.
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8-minute read
Mortgage loan terms: Pick the right one for your financial goals
A mortgage loan term is the time it takes a borrower to pay off their loan when making regular payments. Learn how to pick the right term for your goals.
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5-minute read
Appraised value vs. market value: Knowing the difference
Knowing the difference between appraised value vs. market value is key when purchasing a home. Learn more about the role each plays in real estate transactio...
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6-minute read
Promissory notes: What are they?
A promissory note is a repayment agreement between a borrower and lender, but how does it differ from a loan? Read on to see how promissory notes affect you.
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