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
Solid offers come with a Verified Approval Letter
A Verified Approval Letter shows the seller that your offer should be taken seriously. Learn how a VAL can be an advantage that gets your home offer accepted.
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10-minute read
Earnest money: What is it and how much is enough?
Earnest money protects buyers and sellers in a real estate transaction. Learn how an earnest money deposit works and how it can also make your offer stand ou...
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5-minute read
Title endorsements: What they are and when you need them
A title endorsement is a modification to your title insurance policy that provides additional coverage. Learn more about title insurance endorsements here.
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6-minute read
The mortgage constant explained
The mortgage constant is the amount paid in debt service each year divided by the amount of a loan, expressed as a percent. Learn more about mortgage constants.
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6-minute read
Mortgage Credit Certificate (MCC): How it can help you afford your mortgage payments
What is a Mortgage Credit Certificate (MCC)? This federal tax credit can help first-time buyers save money. Learn how MCCs work, who qualifies, and how to apply...
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6-minute read
Understanding the right of redemption in real estate
A right of redemption helps homeowners recover their homes if they are at risk of foreclosure. Understand your legal protections as a borrower with our help....
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