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Glossary
Mortgage Glossary
Plain-language definitions of common mortgage and home-buying terms.
Principal and interest
(P&I)
→
Debt-to-income ratio
(DTI)
→
Front-end ratio
→
Back-end ratio
→
Mortgage insurance premium
(MIP)
→
Community Development District
(CDD)
→
Homeowners association
(HOA)
→
Federal Housing Administration
(FHA)
→
VA
→
USDA
→
Adjustable rate mortgage
(ARM)
→
Home equity line of credit
(HELOC)
→
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