Glossary of mortgage terms Adjustment Period Adjustable Rate Mortgage (ARM) Amortization Annual Percentage Rate (APR) Appraisal Balloon Loan Closing Closing Costs Conforming Loan Conventional Loan Conversion Credit Report Credit Score Debt Consolidation Debt-to-Income Ratio Discount Points Equity Equity Line of Credit Equity Loan Escrow Account Federal Home Loan Mortgage Corp. (FHLMC) Federal Housing Administration (FHA) Federal National Mortgage Association (FNMA) Fixed Rate Mortgage Floating Good Faith Estimate (GFE) Government National Mortgage Association (GNMA) Housing and Urban Development (HUD) Housing Ratio Impounds Index Interest Rate Investor Jumbo Loan Lifetime Cap Loan to Value Ratio (LTVR) Lock-in Low-Cost Loan Margin Mortgage Insurance Mortgage Insurance Premium (MIP) Mortgagee Mortgagor Non-Conforming Note Option Origination Fee Periodic Rate Cap Points Pre-Paids Prequalification Principal, Interest, Taxes, and Insurance (PITI) Private Investor Private Mortgage Insurance (PMI) Qualifying Ratios Rate Right of Recission Rider Second Mortgage Survey Title Insurance Underwriting Veteran's Administration (VA)

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