Glossary of Terms

Review simple explanations of over 900 financial terms with the handy online glossary. Just click above to access the site. You'll find items such as:

Abandonment, Abstract of judgment, Abstract of title, Abstract of title, Accelerated cost recovery system, Accelerated depreciation, Acceleration clause, Acceleration clause, Acceptance, Acquisition indebtedness, Acre, Acre foot, Active participation, Actual age, Ad valorem tax, Add-on interest, Addendum, Additional principal payment, Adjustable Rate Mortgage, or ARM, Adjustable-rate mortgage (ARM), Adjusted basis, Adjusted cost basis, Adjustment interval, Adjustment period, Administrator's deed, Adverse possession, Adverse use, Affirmation, Agency, Agency closing, Agent, Agreed boundary, Agreement of sale, Alienation clause, Allowances, Alternative mortgage, Alternative mortgage products, Amenities, American Society of Home Inspectors, Amortization, Amortization schedule, Amortization table, Amortization term, Amount financed, Annual mortgagor statement, Annual percentage rate (APR), Anticipatory breach, Application, Application fee, Appraisal, Appraisal fee, Appraisal report, Appraised value, Appraiser, Appreciation, APR, Arbitration, Architect, Architectural fees, ARM, Arpent, As-is condition, Asbestos, Asking price, Assessed value, Assessment, Assessment rolls, Asset case, Assets, Assignor, Assumable mortgage, Assumption clause, Assumption fee, Automatic payment, Automatic stay, Automatic transfer, Avigation easement

Back title letter, Back-end ratio or back ratio, Back-to-back escrow, Backup offer, Balance sheet, Balloon loan, Balloon mortgage, Balloon mortgage, Balloon payment, Bank, Bank holding company, Banker's Year, Bankruptcy, Bankruptcy Code, Bankruptcy trustee, Bargain sale, Basis point, Bearing wall, Bedroom community, Beneficiary, Betterment, Bidding war, Bilateral contract, Bill of sale, Bill presentment, Binder, Biweekly mortgage, Blanket insurance, Blanket mortgage, Blighted area, Blue-ribbon condition, Blueprint, Board foot, Board of Equalization, Boilerplate, Bona fide, Bond, Book value, Boot, Borough, Borrow, Borrow pit, Borrower, Boundary, Breach of contract, Breach of covenant, Breach of warranty, Break-even point, Bridge loan, Bridge loan, Broker, Broker premium, Brokerage, Broom clean, Buffer strip, Builder upgrades, Building and loan association, Building code, Building inspector, Building moratorium, Building permit, Building restrictions, Built-ins, Bundle of rights, Business bankruptcy, Buy-down mortgage, Buydown, Buyer broker, Buyer's market, Buyer's remorse, Bylaws

Call option, Cancellation clause, Cap, Capital, Capital expenditure, Capital gains, Capital gains tax, Capital improvement, Capitalization, Capitalization rate, Caps, Caravan, Carport, Cash flow, Cash-out refinance, Cashier's check, Caveat, Caveat emptor, Certificate of deposit index, Certificate of eligibility, Certificate of occupancy, Certificate of sale, Certificate of title, Chain of title, Change frequency, Change order, Chapter 11, Chapter 12, Chapter 13, Chapter 7, Chapter 7, Chapter 9, Chattel, Chattel mortgage, Circuit breaker, Classified property tax, Clear title, closed-end credit, Closing, Closing costs, Closing statement, Cloud on title, CLTV, Cluster development, CM, Co-housing, Co-maker, Co-signer, COFI, Collateral, Collection, Combined loan-to-value ratio, Commercial bank, Commercial property, Commingling, Commission, Commitment, Commitment fee, Commitment letter, Common area, Common area assessment, Common area assessment, Common law, Common-interest development, Community bank, Community property, Community Reinvestment Act, Comparables or "comps", Comparables or comps, Comparative market analysis, Competent, Compound interest, Compounding method, Comptroller of the Currency, Condemnation, Conditional commitment, Condominium, Condominium conversion, Confirmation, Conforming loan, Consent judgment, Consideration, Construction budget, Construction loan, Construction to permanent loan, Consumer bankruptcy, Consumer credit, Consumer Credit Counseling Service, Consumer debts, consumer price index, Contiguous, Contiguous lots, Contingency, Contingent fee, Contract, Contract, Contract for deed, Contract to purchase, Contractor, Contractual lien, Controlled growth, Conventional loan or conventional financing, Conventional mortgage, Conventional mortgage, Conversion clause, Convertible ARM, Convertible ARM, Convertible mortgage, Conveyance, Conveyance tax, Cooperating broker, Cooperative mortgage, Cooperative or co-op, Cooperative, or co-op, Corporate relocation, Corrective work, Cost-of-funds index, Cost-of-funds index, or COFI, Cost-plus contract, Counteroffer, Coupon, Covenant, Covenants, conditions and restrictions (CC&Rs), Creative financing, Credit, Credit bureau, Credit history, Credit life insurance, Credit rating, Credit report, Credit reporting agency, Credit repository, Credit score, credit scoring system, Credit union, Creditor, Creditor meeting, Cul-de-sac, Curable defect, Curb appeal, Custom builder, Custom home, Customer Identification File (CIF)

Days on the market, Debt, Debt consolidation, Debt-to-income ratio, Debtor, Deductions, Deed, Deed of trust, Default, Delinquent mortgage, demand deposit, Deposit, Depreciation, Dimension plans, Direct deposit, Direct tax, Disclosure, Discount point, Discount points, Discount rate, Distressed property, DNR, Document needs list, Domicile, Down payment, Draw, Draw period, Dry rot, Drywall, Dual agency, Due-on-sale clause, Duplex

Early closing cost reimbursement, Early occupancy, Earned and unearned income, Earned income, Earnest money, Earnest money deposit, ease-purchase mortgage, Easement, Echeck, Effective age, Effective federal funds rate, EFT, Electronic check presentment, Electronic funds transfer, Eminent domain, Employer-assisted housing, Empty nesters, Encroachment, Encumbrance, Encumbrance, End loan, Environmental impact statement, Equal Credit Opportunity Act, Equifax, Equity, Errors and omissions insurance, Escrow, Escrow account, Escrow agent, Escrow analysis, Escrow closing, Escrow company, Escrow payment, Estate, Eviction, Examination of title, Exclusive listing, Experian

Fair Credit Reporting Act, Fair Debt Collection Practices Act, Fair Housing Act, Fair market value, Fannie Mae, Farm Service Agency, FDIC, Fed, Federal Advisory Council, Federal Deposit Insurance Corporation, Federal Discount Rate, Federal funds rate, Federal Home Loan Mortgage Corporation, Federal Housing Administration (FHA), Federal National Mortgage Association, Federal Open Market Committee, Federal Reserve Board, Federal Reserve Board of Governors, Federal Reserve System, Federal Savings and Loan Insurance Corporation, Federal Trade Commission, Fee simple, Fee simple defeasible, FHA loan, FHA mortgage, Fiduciary, Fiduciary duty, Field changes, Filled land, Finder's fee, Firm commitment, First lien, First mortgage, Five-Year Treasury Constant Maturity, Fixed installment, Fixed time, Fixed-rate mortgage, Fixed-rate option, Fixer-upper, Fixture, Flat fee, Float, Flood insurance, Flood plain, Floor, Florida room, FNMA 30 year Mortgage Commitment delivery 60 days, For Sale By Owner (FSBO), Forbearance, Foreclosure, Foreclosure, Forfeiture, Fraudulent transfers (conveyances), Freddie Mac, Fresh start, Front-end ratio or front ratio, FSLIC, Full income verification, Full market value, Fully amortized adjustable-rate mortgage

General contractor, GFE, Gift, Ginnie Mae, Good Faith Estimate, Government National Mortgage Association, Government National Mortgage Association (GNMA), Grace period, Graduated-payment mortgage (GPM), Gross income, Ground rent, Growing-equity mortgage, Guaranteed mortgage

Half-bath, Hazard insurance, Hazard insurance, Hectare, HELOC, High-LTV equity loan, Historic preservation, Historic structure, Home equity, Home equity conversion mortgage, Home equity line of credit, Home inspection, Home Ownership and Equity Protection Act, Home warranty, HomeKeeper, Homeowner's insurance, Homeowners association, Homeowners insurance, Homeowners warranty, Homestead, Homestead exemption, Household income, Housing discrimination, Housing expense ratio, HUD-1 statement, HUD-1 statement, Hybrid mortgage

Impact fees, imple interest loan, Impound account, Impounds, Income property, Independent bank, Index, Indexed rate, Infrastructure, Initial interest rate, Inspection report, Installment contract, Insurable title, Insurance binder, Interest, Interest accrual rate, Interest deduction, Interest rate, Interest rate buy-down plan, Interest rate cap, Interest rate ceiling, Interest tax deduction, Interest-only loan, Interstate banking, Investment property, Itemized deductions

Joint credit, Joint liability, Joint Petition, Joint tenancy, Judicial foreclosure, Jumbo mortgage, Jumbo mortgage, Jumbo mortgages, Junior mortgage

Land contract, Late charge, Late payment, Late payment fee, Latent defect, Lease, Lease option, Lease-purchase mortgage, Leasehold estate, Legal blemish, Legal description, Lender Fees, lessee, Lessor, Letter of intent, Leverage, Liabilities, Liability insurance, LIBOR Rate, Lien, Life cap, Life-cycle cost analysis, Lifetime rate cap, Like-kind exchange, Line of credit, Liquid assets, Liquidated damages, Liquidation, Liquidity, Lis pendens, Lis pendens, Listing, Listing inventories, Live-work space, Livery of seizin, Load-bearing wall, Loan application, Loan application fee, Loan commitment, Loan origination, Loan origination fee, Loan origination fees, Loan processing fee, Loan term, Loan-to-value (LTV) ratio, Loan-to-value ratio (LTV), Local taxes, Lock, Lock or lock-in, Lock-and-float, Lock-in, Low-doc loan, Low-documentation loan, Low-down mortgages, Low-down mortgages, Low-down-payment loan, Lowball offer

Maintenance fee, Manufactured housing, Margin, Market conditions, Market value, Master-planned community, Maturity, Maximum financing, Mechanic's lien, Mechanical systems, Median price, Mediation, Member bank, Merged credit report, Metes and bounds, Mill, Mint condition, Mixed-income housing, Modification, Monthly periodic rate, Monthly Treasury Average (1 year), Mortgage, Mortgage acceleration clause, Mortgage banker, Mortgage broker, Mortgage criteria, Mortgage insurance, Mortgage interest expense, Mortgage life insurance, mortgage refinance, Mortgage-interest deduction, Mortgagee, Mortgagor, Motivated buyer, Motivated seller, Move-in condition, Move-up buyer, Multidwelling property, Multifamily mortgage, Multiple Listing Service (MLS), Municipal housing inspector

National bank, National Credit Union Association, National Credit Union Share Insurance Fu, National Foundation for Consumer Credit, NCUA, NCUSIF, Needs-based pricing, Negative amortization, Negative amortization, Net cash flow, Net income, Net worth, NFCC, Niche banks, NIMBY (Not In My Backyard), No cash-out refinance, No-doc loan, No-doc or low-doc loan, No-documentation loan, Non-assumption clause, Non-liquid asset, Non-recurring closing costs, Nondischargeable debt, Nonresident alien, Note, Note rate, Notice of default

Office of Comptroller of the Currency, Office of Thrift Supervision, One-year adjustable, One-Year Treasury Constant Maturity, Online banking, Open house, Open listing, open-end credit, Option, Oral agreement, Original principal balance, Origination fee, OTS, Owner financing

Passive activity, Passive loss, Payment cap, PC banking, Per-diem interest, Periodic rate, Periodic rate cap, Personal loan, Personal loan, Personal property, Personal property taxes, PITI, PITI reserves, Planned Unit Development (PUD), Plat, Plat, PMI, Point, Points, Portfolio lender, Possession, Power of attorney, Pre-approval, Pre-approval letter, Pre-qualification, Pre-sold home, Prepaid expenses or prepaid items or prepaids, Prepaid interest, Prepayment penalty, Prepayment plan, Prepayment plan, Prime for life, Prime rate, Principal, Principle of conformity, Principle of progression, Principle of regression, Private mortgage insurance (PMI), Private mortgage insurance, or PMI, Probate sale, Production home, Promissory note, Property report, Property tax, Property tax deduction, Property taxes, Property value, Proprietary lease, Prorate, Punch list, Purchase agreement, Purchase contract, purchase option, Purchase-money mortgage

Qualifying ratios, Quit claim deed, Quitclaim deed, Quitclaim deed

Radon, Rate, Rate index, Rate lock, Rate-improvement mortgage, Reaffirmation agreement, Real estate agent, Real estate attorney, Real estate broker, Real Estate Investment Trust, Real estate or real property, Real Estate Settlement Procedures Act, Real Estate Settlement Procedures Act (RESPA), Real property, Realtist, Realtor, Realtor®, Recession, Reconveyance, Recorder, Recording, Recording fee, Redemption, Redlining, Refinancing, Regional bank, Regulation Z, Rehabilitation mortgage or rehab mortgage, REIT, Reliction, Reliction, Relocation benefits, Relocation company, Remaining balance, Remaining term, Rent loss insurance, Renter's insurance, Reorganization plan, Repayment period, Repayment plan, Replacement cost, Replacement reserve fund, Repossession, Resale value, Rescission, Reserve fund, Resident alien, RESPA, Restrictive covenant, Restructured loan, Return on investment, Reverse mortgage, Revolving credit, Revolving line of credit, Right of first refusal, Right of rescission, Roll in, Roll-in loans, Rural Housing Service, Rural Housing Service (RHS)

S&L, Sale agreement, Sale contract, Sale-leaseback, Savings and Loan Association, Savings bank, Schematic designs, Second mortgage, Secondary mortgage market, Secured debt, Secured loan, Security, Seller broker, Seller carryback, Seller take-back, Seller's market, Semi-custom home, Service charge, Servicer, Settlement, Settlement statement, Share certificate, Shared-appreciation mortgage, Shared-equity partnership, Simple interest, Special assessment, Speculation home or spec home or built on spec, Square footage, Standard payment calculation, Starter home, Statement, Steering, Step-rate mortgage, Subagent, Subcontractor, Subordinate loan, Subprime borrower, Subprime mortgage, Subprime mortgage, Survey, Sweat equity

Tax deduction, Tax lien, Tax sale, Tax shelter, Tax stamps, Tear-down condition, Teaser rate, Ten-Year Treasury Constant Maturity, Tenancy by the entirety, Tenants in common, Term, TESTER, The Fed, Third-party originator, Thrift, Time is of the essence, Timeshare, Title binder, Title company, Title defect, Title insurance, Title search, Total expense ratio, Trade equity, Trading down, Trading up, Transfer tax, Treasury bill or Treasury note, Treasury index, Trust account, Trustee, Truth in Lending Act, Truth-in-Lending, Two-step mortgage, Two-Year Treasury Constant Maturity

U.S. Department. of Housing and Urban Development, Underwriter, Underwriting, Unearned income, Unrecorded deed, Unsecured claim, Unsecured loan, Upgrades, Upside-down, Upzoning, Usurious rate, Usury

VA loan, VA mortgage, Variable interest rate, Variable rate, Variable-rate mortgage, Verification of employment, Veterans Administration (VA), Voluntary lien

Waiver, Walk-through, Wall Street Journal prime rate, Warranty, Warranty deed, Workout, Wraparound mortgage, WSJ Prime Rate

Zero-lot line, Zoning, Zoning variance

$30,000 home equity line of credit, $30,000 home equity loan, 1 Month LIBOR Rate, 1-year ARM, 1-year ARM, 1/1 ARM, 11th District Cost of Funds, 15-year fixed, 15-year jumbo, 15-year jumbo mortgage, 182-day T-bill auction average discount rate, 3/1 ARM, 30-year FHA, 30-year fixed, 30-year jumbo, 30-year jumbo mortgage, 5/1 ARM, 5/1 ARM, 5/1 jumbo ARM, 5/1 jumbo mortgage, 7/1 ARM, 7/1 ARM, 72-hour clause, 80-10-10 loan, 91-day T-bill auction average discount rate

Sample glossary information - Abandonment, Abstract of title, Abstract of judgment and more :

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