Mortgage Dictionary

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Mortgage Dictionary

Buying a house is the biggest purchase most people will ever make, and buying a house means in most cases getting a mortgage loan. The fact that a mortgage (or rent) is usually the single biggest expense in a family budget, underscores the importance of proper mortgage education. Understanding all important mortgage terms, will help consumer make educated choices about their mortgage, without going into too much debt. Our mortgage dictionary explains the most popular words and phrases used in the mortgage industry, which every homebuyer will have to learn sooner or later. The mortgage definitions contain plenty of examples for better illustration of the discussed concepts.

Adjustable-Rate Mortgage (ARM)
Amortization
Annual Percentage Rate
Appraisal
Appreciation
Assumable Mortgage
Balloon Mortgage
Bankruptcy
Borrower
Bridge Loan
Canada Home Buyers Plan
Canada Mortgage and Housing Corporation
Capital gains
Carrying Costs
Cash-out refinance
Certificate of Title
Closing
Collateral
Condominium
Conventional Mortgage
Convertible mortgage
Credit
Credit bureau
Credit card
Creditor
Debt
Debt Consolidation
Debt to Income Ratio
Debtor
Deed
Default
Delinquency
Depreciation
Discharge
Down payment
Duplex
Equity
Fair Market Value
Fannie Mae
Federal tax lien
Fha
First Mortgage
Fixed-Rate Mortgage
Foreclosure
Freddie Mac
Home Equity Line Of Credit
Home Insurance
Homestead
Index
Interest
Interest rate
Jumbo mortgage
Land
Leasehold
Lender
Leverage
Liabilities
Lien
Line of credit
Liquid assets
Loan
Loan to Value
Margin
Market value
Mortgage
Mortgage Broker
Mortgage Insurance
Mortgage Payment Options
Mortgage Types
Mortgagee
Mortgagor
Negative Amortization
Note
Origination fee
Personal Loans
Piti
Prepayment Penalty
Prime rate
Principal
Promissory note
Property tax
Purchase agreement
Qualify
Real property
Refinancing
Reverse Mortgage
Rural
Second mortgage
Secured Credit Cards
Seller Financing
Simple interest
Sub-prime borrower
Subprime Lenders
Suburban
Survey
Tax lien
Term
Title
Townhouse
Trust deed
Urban
Valuation
Variable rate mortgage

If you need a mortgage related term explained and you don't see it in our mortgage dictionary, don't hesitate to contact us, with request to add it. Our mortgage site is and it will always be a work in progress, adding relevant mortgage articles and information regularly. Bookmark Mortgage Dictionary and check for new mortgage information frequently.

If you want to calculate your mortgage payments you can do it here.