Mortgage Terms Information

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Section One - Mortgage Dictionary

All the terms we could think of regarding mortgages in one handy spot.


Section Two - LTV - Loan to Value

Information on LTV and why it matters.


Section Three - APR - Annual Percentage Rate

Information on APR and how it is calculated.


Section Four - Fannie and Freddie

Who are Fannie and Freddie and how can they help me get a lower rate?


Section Five - Government Loan Agencies

What is a government loan?


Section Six - PMI

Information about Private Mortgage Insurance, called PMI.


Section Seven - 2nd Mortgages

Why is it called a 2nd Mortgage?


Section Eight - Title Insurance and Owners Title Insurance

What is title insurance and why should I consider owners title insurance?


Section Eight - Cash Out Mortgage

What is a cash out mortgage?


Section Nine - Condo, PUDs, Townhomes

What are the differenes between a Condo, PUD, and Townhome?


Section Ten - Zoning

Does it matter how my property is Zoned?


Section Eleven - Recasting

What is recasting and does it affect my payment?


Section Twelve - Negative Amortization Loans

Sometimes called Pick-A-Payment loans - what are negative amortization loans?


Section Thirteen - No Closing Cost Mortgages

Can I really get a mortgage with no closing costs?