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Listings for Mortgages Key Terms (106)


Monthly expenses

Monthly expenses This is how much you spend every month. It can include, but is not limited to, recurring obligations like rent or mortgage payment, […]

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Margin The margin is the number of percentage points added to the index by the mortgage lender to set your interest rate on an adjustable-rate […]

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Loss mitigation

Loss mitigation oss mitigation refers to the steps mortgage servicers take to work with a mortgage borrower to avoid foreclosure. Loss mitigation refers to a […]

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Loan-to-value ratio

Loan-to-value ratio The loan-to-value (LTV) ratio is a measure comparing the amount of your mortgage with the appraised value of the property. The higher your […]

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Loan modification

Loan modification A mortgage loan modification is a change in your loan terms. The modification is a type of loss mitigation. A modification can reduce your […]

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Loan estimate

Loan estimate A Loan Estimate is a three-page form that you receive after applying for a mortgage.

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Lifetime adjustment cap

Lifetime adjustment cap A lifetime adjustment cap is typically used with adjustable rate mortgages (ARMs). This cap determines how much the interest rate can increase […]

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Lenders title insurance

Lenders title insurance Lender’s title insurance protects your lender against problems with the title to your property-such as someone with a legal claim against the […]

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Jumbo loan

Jumbo loan Each year Fannie Mae, Freddie Mac, and their regulator, the Federal Housing Finance Agency (FHFA), set a maximum amount for loans that they […]

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Interest rate cap

Interest rate cap An interest rate cap, sometimes referred to as an annual cap, is the maximum interest rate increase that can occur annually for […]

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