Mortgage terminology
Get clarity on the unique language of mortgage loans
Featured articles:
ARM vs. fixed-rate mortgage: What’s the difference?
ARMs (adjustable-rate mortgages) and fixed-rate mortgages have distinct pros and cons depending on your goals. Learn the key differences and how to decide.
Debt-to-income ratio (DTI): What is it and how is it calculated?
Your debt-to-income ratio measures the difference between your obligations and your income. Learn how to calculate DTI and what it means for mortgages.
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5-minute read
What is compound interest and how is it calculated? A guide
What is compound interest, and how does it work? Learn more about how compound interest differs from simple interest and which financial products use it.
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5-minute read
Real property: Definition and examples
Real property refers to the rights of ownership that are attached to a property. Your real property rights can affect everything from privacy to leasing.
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12-minute read
When will mortgage rates go down?
Wondering when mortgage rates will go down? It’s important to understand the factors that influence rates and how these factors lead to higher or lower ra...
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6-minute read
What is a mortgage amortization schedule?
Learn what amortization is and how an amortization schedule helps you understand how your monthly mortgage payment is applied to principal and interest.
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5-minute read
Proof of funds: What is a POF letter in real estate?
Proof of funds can help you close on a home faster. If you’re buying with cash, you’ll almost certainly need this type of letter.
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5-minute read
What is APR?
Annual percentage rate (APR) describes the total yearly cost of a mortgage. Learn how to calculate and compare favorable APRs while mortgage shopping.
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