Mortgage Terminology

Get clarity on the unique language of mortgage loans

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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.

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.

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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.

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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.

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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.

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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.

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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.

3-minute read

What Is A Transfer Tax?

Transfer tax is a one-time fee for the transfer of property ownership. Learn how transfer tax is assessed, rules by state and local governments, and how it works.