Mortgage terminology

Get clarity on the unique language of mortgage loans

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Featured resources

A rural cottage nestled in the mountains, suggesting a serene and remote living environment.

4-minute read

Co-borrower vs. co-signer: What's the difference?

If you need help getting a mortgage, a co-borrower or co-signer can bolster your application. Learn more about buying a home with a co-borrower or co-signer.

House with a brick path, highlighting architectural details and landscaping in a residential setting.

5-minute read

What is a lien and how does it work?

A lien gives a lender or creditor the ability to claim a property to pay off a debt. Learn how they work and about other types of property debt.

Woman using a phone and a MacBook, potentially managing finances or conducting research online.

6-minute read

Loan principal definition and basics

The principal is the amount you borrowed for your loan, while interest is the fee for use of the loan. Learn how each makes up your monthly payment.

A brick olive-colored house, depicting a residential property.

5-minute read

Contingent vs. pending: What's the difference?

Home buyers sometimes confuse contingent versus pending. Learn the difference between pending and contingent and what the two statuses mean in real estate.

Colonial-style house in Massachusetts with a white exterior and greenery.

6-minute read

House deed: Defined and explained

A house deed is a physical document legally transferring ownership of real estate. Learn more about how house deeds affect sellers and buyers.

A charming row of houses with a white picket fence, creating a picturesque neighborhood scene.

6-minute read

Underwriting in the mortgage process, explained

Underwriting is a crucial part of the loan approval process. Learn about what underwriting is, how long it can take, and tips for a successful experience.