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Top Mortgage Terms To Know

By
Mortgage and Lending with Chris Brown | Certified Mortgage Planners NMLS 303797

While most mortgage web sites offer a glossary containing hundreds of real estate and lending related terms, we wanted to highlight the top terms that most borrowers will hear several times throughout the approval and home buying process.

Understanding the "Shop Talk" between the various industry professionals that you've assembled on your team will hopefully give you greater confidence when discussing important topics that may impact your transaction.

Mortgage Related Terms:

Amortization Schedule:

A schedule of payments showing the amount applied to the principal and interest through the payoff.

Annual Percentage Rate (APR):

The effective rate of interest that includes loan related fees.  The APR helps determine the total cost of borrowing a loan and is used to...


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Top Mortgage Terms To Know

 

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