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Our goal is to provide clients with any information that is needed to make the best possible home purchase or re-finance decision. We have compiled this dictionary of common mortgage terms based on the most frequently asked questions that our loan representatives have responded to. For an explanation of these mortgage terms click on the arrow and highlight the word or words you are interested in.

 

<Select Mortgage Term> 15 Year Amortization 30 Year Amortization Amortization Bank Closing Costs Conventional Loan Debt to Income Ratio Document or "Doc" fees Down Payment Escrow FHA Loan FICO Credit Scores Fixed Rate Mortgage Foreclosure "Funding the loan" Home Appraisal HUD Loan Impound Accounts Interest Rate - APR Interest Rate - APY Insurance Impounds Jumbo Loan Lender Loan to Value Ratio Mortgage Broker Mortgage Insurance-PMI "Opening Escrow" Points "Shopping Your Loan" Title Insurance Trust Deed Variable Rate Mortgage VA Loan

 

If you would like a definition of additional mortgage terms please email us with the definition requested at rick@northbayresourcegroup.com. All requests will receive a prompt response. If you would like us to call you be sure to include your phone number in the email.