Financial terms related to home loans, mortgages, and real estate financing.
A mortgage with an interest rate that changes periodically based on a market index.
Fees paid at the end of a real estate transaction, typically 2–5% of the loan amount.
An upfront cash payment when purchasing a home or vehicle, reducing the loan amount.
A neutral third party holding funds or assets until transaction conditions are met.
A mortgage with an interest rate that stays constant throughout the loan term.
A legal process where a lender takes possession of a home after the borrower defaults.
A revolving line of credit secured by your home equity, typically with variable rates.
The ratio of loan amount to asset value; used in mortgage qualification.
A loan used to purchase real estate, secured by the property itself.
A fee charged by a lender to process a new loan, typically 0.5–1% of amount.
Insurance required when down payment is less than 20%, protecting the lender.
Replacing an existing loan with a new one, typically to lower interest rates.
When the outstanding loan balance exceeds the current market value of the home.
A home loan that meets CFPB rules limiting risky features, giving lenders legal safe harbor.
The gradual payoff of a loan through scheduled payments that cover both interest and principal.