Below is a list of mortgage and real estate terms. To have the
definition shown, please click on the term.
|
Abstract of Title |
Acceleration Clause |
Accretion |
|
Agreement of Sale |
Acknowledgment |
Acre |
|
Adjustable Rate Mortgage |
Adjustment Period |
Amortization |
|
Annual Percentage Rate (APR) |
Appraisal |
Arm's Length Transaction |
|
Assessment |
Assumable Mortgage |
Attorney-In-Fact |
|
Balloon Payment Mortgage |
Bankruptcy |
Beneficiary |
|
Bi-weekly Mortgage |
Blanket Mortgage |
Bond |
|
Bridge Loan |
Broker |
Buy Down |
|
Buyers Broker |
Buyers Market |
Bylaws |
| Capital Gains |
Cash Flow |
Caveat Emptor |
| Covenants, Conditions, and Restrictions |
Certificate of Eligibility |
Certificate of Occupancy |
| Certificate of Title |
Chain of Title |
Clear Title |
| Closing |
Closing Cost |
Cloud on Title |
| Commitment |
Condemnation |
Conditional Commitment |
| Condominium |
Construction Loan |
Consideration |
| Contingency |
Contract |
Contract of Sale |
| Contract Sale or Deed |
Conventional Loan |
Conveyance |
| Cooperative (Co-op) |
Convertible ARM's |
Credit Report |
| Deed |
Deed of Trust |
Deed Restriction |
| Defective Title |
Deficiency Judgment |
Depreciation |
| Discount Points |
Dower |
Down Payment |
| Due on Sale Clause |
Dragnet Clause |
Earnest Money |
| Easement |
Eminent domain |
Encroachment |
| Encumbrance |
Equity |
Equity Sharing |
| Escrow |
Executor |
Federal Home Loan Mortgage Corporation (FHLMC, Freddie Mac) |
| Federal National Mortgage Association (FNMA, Fannie Mae) |
Federal Home Loan Bank Board (FHLBB) |
Farmer's Home Administration (FmHA) |
| Federal Housing Administration (FHA) |
Federal Reserve System |
Fee Simple |
| Fidelity Bond |
Fiduciary |
Finance Charge |
| First Mortgage |
Fixture |
Flood Insurance |
| Foreclosure (Repossession) |
Free and Clear |
For Sale By Owner (FSBO) |
| Fully Indexed Rate |
General Warranty Deed |
Government National Mortgage Association (GNMA, Ginnie Mae) |
| Grantee |
Grantor |
Graduated Payment Mortgage |
| Grandfather Clause |
Hazard Insurance |
Homeowners Association |
| Homestead |
Homestead Exemption |
Home Warranty Plan |
| Housing and Urban Development (HUD) |
HUD-1 |
Hypothecate |
| Improvements |
Impound Account |
Income Approach |
| Income/Investment Property |
Index |
Ingress and Egress |
| Installment Sale |
Joint and Several Liability |
Joint Tenancy |
| Judgment |
Judgment Lien |
Jumbo Loan |
| Junior Mortgage |
Kicker |
Land Contract |
| Leasehold Estate |
Legal Description |
Lessee |
| Lessor |
Lien |
Life Estate |
| Lis Pendens |
Loan Application |
Loan Origination Fee/Points |
| Loan-to-Value
Ratio (LTV) |
Loan Servicing Act |
Margin |
| Marketable Title |
Market Value |
Mechanics Lien |
| Mortgage |
Mortgage Backed Security |
Mortgage Banker |
| Mortgage Broker |
Mortgagee |
Mortgager/Mortgagor |
| Mortgage Insurance |
Mortgage Note |
Negative Amortization |
| Net Effective Income |
Non-conforming Loan |
Note |
| Notary Public |
Notice of Default |
Offer |
| Open House |
Open End Mortgage |
Oral Contract |
| Owner of Record |
Owner Occupant |
Package Mortgage |
| Paper |
Partial Release |
Participation Mortgage |
| Pass Through Certificates |
Permanent Loan |
Permit |
| PITI |
Planned Unit Development (PUD) |
Plat |
| Plat Book |
Points |
Portfolio Loan |
| Power of Attorney |
Prepaid Interest |
Prepayment |
| Prepayment Penalty |
Primary Mortgage Market |
Prime Rate |
| Private Mortgage Insurance (PMI) |
Probate |
Purchase Money Mortgage |
| Property Tax |
Public Sale |
Purchase Agreement |
| Quiet Title (Action) |
Quit Claim Deed |
Realtor |
| Real Estate Broker |
Real Estate Settlement Procedure Act (RESPA) |
Redlining |
| Refinancing |
Re-conveyance |
Recording |
| Recision |
Recourse |
Regulation Z |
| Real Estate Investment Trusts |
Reverse Mortgage |
Rollover Loan |
| Restrictive Covenants |
Sales Agreement or Sales Contract |
Savings and Loan |
| Secondary Mortgage Market |
Second Home |
Second Mortgage |
| Section 8 Housing |
Section 1031 |
Security |
| Servicing |
Settlement Cost (HUD Guide) |
Settlement Statement |
|
Shared Appreciation Mortgage |
Sheriff's Deed |
Single Family Residence |
|
Spec House |
Special Assessment |
Special Warranty Deed |
| Specific Performance |
Subdivision |
Subordination |
| Subject To (Purchasing Subject to a Mortgage) |
Survey |
Sweat Equity |
| Takeout Financing |
Tax Lien |
Teaser Rate |
| Tenancy at Sufferance |
Tenancy at Will |
Tenancy by Entirety |
| Tenancy for Years |
Tenancy in Common |
Tenancy in Severalty |
| Time is of the Essence |
Time Share |
Title |
| Title Insurance |
Title Report |
Title Search |
| Town House |
Tract |
Transfer Tax |
| Triple-Net Lease |
Trust Account |
Trust Deed |
| Trustee |
Truth-in-Lending |
Two-Step Mortgage |
| Underwriting |
Undivided Interest |
Unencumbered Property |
| Unimproved Property |
Uniform Residential Loan Application (URAR, 1003) |
Unrecorded Deed |
| Usury |
Vacation Home |
VA Loan |
| Variable Rate Mortgage |
Verification of Deposit (VOD) |
Verification of Employment (VOE) |
| Verification of Mortgage (VOM) |
Verification of Rent (VOR) |
Veteran's Administration (VA) |
| Waiver |
Warehousing |
Warranty Deed |
| Wraparound Mortgage |
Zero Lot Line |
Zoning |