Realtor Jargon:
Liquid assets:
Cash and all other assets that can be converted to cash relatively quickly. Liquid assets can include money in savings and checking accounts, money-market accounts and most CD's.
Debt Abstract or title search Accelerated cost recovery system
Acceleration clause Acceptance Addendum
Additional principal payment Adjustable rate mortgage (ARM) Adjustment period
Agency closing Agency disclosure Agreement of sale
Alienation clause Alternative mortgage Amortization
Amortization tables Amortization term Annual mortgagor statement
Annuity Application fee Appraisal
Appraisal fee Appraisal report Appraised value
Appreciation APR (annual percentage rate) ARM (adjustable rate mortgage)
ARM index Assessed value Assessment
Assets Assignment Assignor
Assumable mortgage Assumption clause Assumption fee
Back title letter Back-end ratio Balance sheet
Balloon loan Balloon payment Bankruptcy
Base loan amount Basis point Before-tax income
Bill of sale Binder Binder
Biweekly mortgage Blanket mortgage Book value
Break-even point Bridge loan Broker
Brokerage Buydown mortgage Buyer's remorse
Call option Cap Capitalization
Capitalization rate Caps (Interest Rate Caps) Carryback financing
Cash flow Cash-out refinance Cashier's check
Certificate of deposit index (CODI) Certificate of eligibility Certificate of occupancy (CO)
Certificate of Reasonable Value (CRV) Certificate of veteran status Chain of title
Clear title Closing Closing costs
Closing statement Cloud on title Co-signer
COFI Index (Cost of Funds Index) Commercial Mortgage Commercial Mortgage Broker
Commercial Mortgage Lender Commitment Commitment fee
Comparables Compound interest Conditional commitment
Conditional sale Conforming loan Construction documents
Construction loan Construction-to-permanent loan Conventional loan
Convertible adjustable-rate mortgage Cooperative mortgage Courier fee
Credit history Credit life insurance Credit rating
Credit report Credit repository Credit Risk Score
Credit Score Debt-to-Income Ratio Deed
Deed of trust Default Delinquency
Delinquent mortgage Department of Veterans Affairs (VA) Deposit
Disclosure Discount points Document needs list
Documentation Preparation Fee Down payment Draw
Due on Sale clause Earnest money Earthquake insurance
Easement Encumbrance End loan
Entitlement Equal Credit Opportunity Act (ECOA) Equifax
Equity Errors and omissions insurance Escrow
Escrow account Escrow agent Escrow closing
Escrow company Escrow Disbursements Escrow payment
Estate Estimated closing costs Estimated hazard insurance
Estimated property taxes Examination of title Executed contract
Experian Fair Credit Reporting Act Fair Housing Act
Fannie Mae Farmer's Home Administration (FMHA) Federal Home Loan Mortgage Corporation (FHLMC)
Federal Housing Administration (FHA) Federal National Mortgage Association (FNMA) FHA loans
FHA Mortgage Insurance Firm commitment First mortgage
Fixed time Fixed-rate mortgage Flood certification
Flood insurance For Sale By Owner (FSBO) Freddie Mac
Front-end ratio Fully Amortized ARM Gift
Ginnie Mae Good faith estimate Government National Mortgage Association (GNMA)
Grace period Graduated Payment Mortgage Gross income
Growing-equity mortgage Hazard insurance High-rise
Home equity line Home equity loan Home inspection
Home inspector Home price Homeowner's insurance
Homeowners Association (HOA) Homeowners Association dues Homestead
Housing expense ratio HUD HUD-1 Uniform Settlement Statement
Impounds Income property Index
Indexed Rate Initial interest rate Initial rate cap
Initial rate duration Inspection fee Inspection report
Insurance binder Insured Mortgage Interest accrual rate
Interest only loan Interest paid over life of loan Interest rate
Interest rate buy-down plans Interest rate cap Interest rate ceiling
Interest Rate Floor Interim financing Investment property
Joint liability Joint tenancy Jumbo loan
Junior mortgage Late charge Late payment
Lease-Purchase Leasehold Legal blemish
Legal description Lender Liabilities
Liability insurance LIBOR Lien
Life cap Lifetime Payment Cap Lifetime Rate Cap
Liquid assets Loan application Loan application fee
Loan commitment Loan officer Loan origination fee
Loan term Loan-to-value ratio (LTV) Lock-in
Lock-in period Low-documentation loan LTV (loan-to-value ratio)
Maintenance fee Margin Market value alue
Merged credit report Modification Modified annual percentage rate (APR)
Monthly association dues Mortgage Mortgage acceleration clause
Mortgage banker Mortgage broker Mortgage broker business
Mortgage insurance Mortgage Interest deduction Mortgage life insurance
Mortgagee Mortgagor Negative amortization
Net cash flow Net worth No-cash-out refinance
No-documentation loan Non-assumption clause Non-conforming loan
Non-liquid asset Nonrecurring closing costs Note
Note rate One-year Adjustable Rate Mortgage Option
Option Arm Loan Original principal balance Origination fee
Owner financing Payment cap Payment Change Date
Per-diem interest Periodic Payment Cap Periodic Rate Cap
PITI (principal, interest, taxes, and insurance) Pledged Account Mortgage (PAM) Point
Pre-approval Pre-approval letter Prepaid expenses
Prepaid fees Prepaid interest Prepayment penalty
Prequalification Principal paid over life of loan Principle of conformity
Private mortgage insurance (PMI) Processing fee Property tax
Purchase-money mortgage (PMM) Qualifying ratio Quitclaim deed
Rate cap Rate lock Rate-improvement mortgage
Recording fee Refinancing Regulation Z
Rehabilitation mortgage Remaining balance Remaining term
Rescission Reverse mortgage Right to rescission
Sales contract Second mortgage Seller carry-back
Seller financing Settlement or closing fees Settlement statement
Shared-appreciation mortgage Shared-equity transaction Step-rate mortgage
Subordinate loan Subsequent rate adjustments Subsequent rate cap
Super jumbo mortgage Survey Sweat equity
Tax lien Tax service fee Teaser rate
Tenancy by the entirety Tenancy in common Timeshare
Title Title company Title Exam
Title insurance Title insurance binder Title risk
Title search Total expense ratio Total lender fees
Total loan amount Total monthly housing costs Total of all payments
Townhouse Trading down Trading up
Trans Union Corporation Transfer tax Treasury Index
Two-step mortgage U.S. Department of Housing and Urban Development Underwriters' knot
Underwriting Underwriting fee Unrecorded deed
VA (Veterans Administration) VA loan Variable rate mortgage (VRM)
Verification of deposit (VOD) Verification of employment (VOE) Warehouse fee
Wraparound mortgage Yield spread