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: What it is and how to calculate it
Learn what debt-to-income ratio means, how to calculate DTI and what lenders may look for before you apply for a mortgage. Start planning your next step.
Featured resources
12-minute read
Closing Disclosure: What it is and how to read the form
Learn what a Closing Disclosure is, how the 3-day rule works and which loan costs to check before closing. Review your form with confidence before you sign.<...
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8-minute read
Mortgage fraud: What it is and what to do about it
Any misrepresentation of information on a mortgage application is considered mortgage fraud. Here’s how to identify, avoid, and report scams.
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9-minute read
What is private mortgage insurance? PMI defined and explained
Learn what private mortgage insurance is, when PMI is required, how much it costs, and how to cancel it. Compare options before you apply.
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10-minute read
How much is title insurance? Costs, requirements, and savings tips
How much does title insurance cost? Break down premiums, closing fees, state rules and discounts before you get to closing.
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6-minute read
When will mortgage rates go down?
Learn what experts expect regarding mortgage rates, what drives rates, and how to decide whether to buy or refinance now.
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8-minute read
What does clear to close mean? What to expect
Clear to close is an important milestone in the mortgage process. Learn what clear to close means, how it fits into underwriting, and what happens next.
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