Index

The economic indicator, by which future interest rates for Adjustable Rate Mortgages are based. Common indexes include the "Cost of Funds" for the Eleventh Federal District of banks or the average interest rate of a 1 year Government Treasury Security.

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

A
Adjustable Rate or ARM
Amortization
Annual Percentage Rate (APR)
Application
Application Fee
Appraisal
Appraised Value Financing

B
Builder Approval

C
Cash Out
Closing Costs
Conforming Loan
Construction Interest Rate
Construction Loan
Construction to Permanent Loan

D
Discount Points, or Points
Down Payment
Draw or Disbursement Schedule

E
Effective Interest Rate
End Loan Financing
Equity
Extended Rate Lock

F
FHA Loan
Fixed Rate
Float Down Option

G
Good Faith Estimate
Gross Income

H
Hazard Insurance
Home Equity Loan
HUD I Settlement Statement

I
Index
Interest Rate

J
Jumbo Loan

K

L
Loan to Value Ratio (LTV)
Lock or Lock In

M
Modification

N
Negative Amortization

O
One time or "single" close

P
PITI
Prepayment Penalty

Q
Qualifying Ratios

R
Right of Rescission

S

T
Take Out Loan
Title
Title Insurance

U
Underwriting

V
VA Loan

W

X

Y

Z