Real Estate Glossary:

H

HAZARD INSURANCE

HUD

I

INITIAL INTEREST RATE

INTEREST RATE

J

K

L

LETTER OF COMMITMENT

LOAN CLOSING

LOAN TO VALUE

LOAN-TO-VALUE RATIO

M

MISREPRESENTATION

MORTGAGE BACKED SECURITIES

MORTGAGE BANKING

MORTGAGE BROKER

MORTGAGE LOAN CORRESPONDENT

N

NON-OWNER-OCCUPIED PROPERTY

O

ORIGINATION FEE

OWNER-OCCUPIED PROPERTY

P

PAYMENT SHOCK

PERFECTING TITLE

PLANNED UNIT DEVELOPMENT

PREPAYMENT PENALTY

PRIMARY UNDERWRITER

PROPERTY APPRAISAL

Q

QUALIFYING INCOME RATIO

A

R

RATE AND TERM REFINANCE

REGULATION X

REGULATION Z

REVIEW UNDERWRITER

S

SEASONED LOAN

SECONDARY FINANCING

SECONDARY MARKET

SETTLEMENT STATEMENT

T
TAKE-OUT COMMITMENT

TITLE INSURANCE BINDER

TITLE INSURANCE POLICY

TRUTH-IN-LENDING ACT

U

UNDERWRITING

UNIFORM SETTLEMENT STATEMENT

V

VARIABLE-RATE MORTGAGE

VERIFICATION OF DEPOSIT

VERIFICATION OF EMPLOYMENT

VETERANS ADMINISTRATION

W

WARRANTY DEED

AMORTIZATION PERIOD

ANNUAL PERCENTAGE RATE

APPRAISED VALUE

B

BALLOON MORTGAGE

BASIS POINT

C

CAP

CLOSING SETTLEMENT

CLOUD ON TITLE

CO-BORROWER

COMMITMENT FEE

CONDOMINIUM

CONSTRUCTION LOAN

CONSTRUCTION LOAN AGREEMENT

CONSTRUCTION LOAN DRAW

CONVENTIONAL LOAN

COST APPROACH

D

DEED

DEED OF TRUST

DE MINIMUS PUD

DUE-ON-SALE CLAUSE

E

ENCROACHMENT

EQUAL CREDIT OPPORTUNITY ACT

EQUITY MORTGAGE

EQUITY REFINANCE

ESCROW ACCOUNT

ESCROW AGREEMENT

ESCROW PAYMENT

F

FEDERAL HOME LOAN MORTGAGE CORPORATION

FEDERAL HOUSING ADMINISTRATION

FHA MORTGAGE

FIXED INTEREST RATE

FULLY INDEXED ACCRUAL RATE

G

GARNISHMENT

GIFT LETTER

GOOD FAITH ESTIMATE

GOVERNMENT NATIONAL MORTGAGE ASSOCIATION

GRADUATED PAYMENT MORTGAGE

GUARANTEED LOAN

Multiple Listing Service, Equal Housing Opportunity, Affordable Housing Specialist, Licenced Realtor, Austin Board of Realtors Member


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Serving Austin, Texas & Surroundings

carrie Westfall Mortgage LOAN OFFICER

(512) 695 0962

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