Mortgage Terminology

Get clarity on the unique language of mortgage loans
Man in blue shirt with ring reading paper document.

Featured Articles:

Fixed- Vs. Adjustable-Rate Mortgage (ARM): 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.

 Read More 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.

 Read More

1-6 of 149

A frustrated young couple, expressing frustration or stress.

Mortgage Basics - 6-MINUTE READ

Molly Grace - Oct 23, 2024

What Is Preforeclosure And How Can You Avoid It?

Preforeclosure is the first legal step toward foreclosure. Uncover tips on how to avoid foreclosure and discover some options available to homeowners.
A modern house in twilight, showcasing the architectural design of a modern residence.

Mortgage Basics - 4-MINUTE READ

Miranda Crace - Oct 21, 2024

What Is Real Property? Definition and Types

Real property determines who has legal rights to a home, so it’s crucial to know its definition. Learn what real property is and what it means for buyers.

Calculating mortgage payments, representing financial planning or budgeting.

Mortgage Basics - 10-MINUTE READ

Kevin Graham - Oct 21, 2024

What Is A Mortgage Acceleration Clause?

A mortgage acceleration clause means that your entire mortgage balance becomes due if you default on your repayment. Learn more about the acceleration clause.

A stylish young man with tattoo sleeves working on a computer.

Mortgage Basics - 5-MINUTE READ

Scott Steinberg - Oct 16, 2024

What Is The Prime Rate And How Does It Work?

The prime rate is an index that helps determine rates on loans. But how does that work? In our guide, you’ll learn how the prime rate affects your wallet.

A small greenhouse or conservatory, showcasing a structure designed for gardening, relaxation, or cultivating plants within a home setting.

Mortgage Basics - 10-MINUTE READ

Cathie Ericson - Sep 25, 2024

Contingent: What It Means In Real Estate

In real estate, “contingent” refers to conditions that must be met for a sale to proceed as planned. Learn how contingencies protect potential home buyers.

Two-story white house in winter with snowy lawn and trees.

Mortgage Basics - 6-MINUTE READ

Ashley Kilroy - Sep 23, 2024

What Does Assessed Value Mean And How Is It Determined?

The assessed value of a home helps determine its worth for property tax purposes. Discover how a home’s value gets assessed and why this matters.