You're Here: Home » Archive by category 'Glossary'

Article of the Day: David Lereah Calls Rosy Real Estate Predictions "Positive Spin"

  1. A
  2. B
  3. C
  4. D
  5. E
  6. F
  7. G
  8. H
  9. I
  10. J
  11. K
  12. L
  13. M
  14. N
  15. O
  16. P
  17. Q
  18. R
  19. S
  20. T
  21. U
  22. V
  23. W
  24. X
  25. Y
  26. Z
Suggest A Glossary Term - Click Here!

Glossary

Get easy to understand definitions for common mortgage terms from the Mortgage Insider. In our glossary, we define the word, tell you about in industry usage, and usually give an example so you can fully and easily understand not just the meaning but the function of the word.

Temporary Buydown

Temporary Buydown Defined
A temporary buydown is when the interest rate is lowered for the first few years for an upfront fee.
The most common temporary buydown is the 2-1 buydown. That means the interest rate is 2 points lower for the first year of the loan then 1 point lower for the second [...]

Term

Term Defined
Term is usually referred to as the time period it takes to pay off the mortgage. It is also used to calculate your mortgage payment and is usually expressed in months. On your application for example, you would see 360 months for a 30 year mortgage.
On some mortgages, the term is [...]

Recommended Reading

  Insider Banking Tactics To Stop Foreclosure Dead In It’s Tracks

   Simple Shopping Method Gets You the Best Mortgage Rate Guaranteed!