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)→
- Principal, interest, taxes, and insurance (PITI)→
- Private mortgage insurance (PMI)→
- Escrow→
- Amortization→
- Conforming loan→
- Jumbo loan→
- Loan origination fee→
- Title insurance→
- Discount points→