BUY REMODEL RESOURCES ABOUT APPLY LOGIN TPO Mortgage glossary We’re here to help you learn the language of home loans. A-F G-K L-P Q-T U-Z Abstract of Title The abstract of title is a brief history of the title of a property. It should be a chronological history of recorded instruments that affect the title of the subject property. It generally includes references to deeds, mortgages, wells and court litigations. Some states allow the use of an abstract for title searches. After the conclusions of the title search, an opinion is issued by the attorney that can be used to obtain title insurance. However, the abstract does not guarantee the title. It can only reveal what is of public record. If will not protect against fraud or forgery as title insurance does. Accrued Interest Adjustable Rate Mortgage (ARM) Adjustment Interval ADU – Additional dwelling unit Amortization Amortization Schedule Amount Financed Application Appraisal Appraisal Fee Appraiser Appreciation APR (Annual Percentage Rate) Arrears Artesian Well As-Is Condition Assessment Assumption Assumable Mortgage Authorized User Automated Underwriting ADU – Additional dwelling unit Balance Balloon Mortgage Basis Points Bi-Monthly Mortgage Bi-Weekly Mortgage Board of REALTORS® Bottom Land Breach of Contract Building Code Building Permit Buy Down Buy Up Buyer's Market Capital Gain Cash Out Refinance Cash to Close Certificate of Insurance Certificate of Title Certified Check Clear Title Closed-End Mortgage Closing Closing Costs Closing Date Co-Borrower COFI (Cost of Funds Index) Collateral Comparables Conventional Mortgage (Conventional Loan) Construction Financing Conversion Option Cost of Savings Index Co-Signer Counter Offer Credit History Credit Report Credit Score Credit Utilization Ratio Cumulative Interest Closing Disclosure Day of Consummation Debt-to-Income (DTI) Deed Deed in Lieu of Foreclosure Default Delinquency (or Delinquent) Demand Clause Disclosure Discount Points Discretionary ARM Documentation Requirements Down Payment Due-on-Sale Clause Earnest Money Equity Escrow Account FHA (Federal Housing Administration) FHA 203(k) Home Improvement Loans FHA Mortgage Loans Fair Credit Reporting Act (FCRA) Fannie Mae Fees FICO Score First Mortgage Financing Points First Time Home Buyer Fixed Rate Mortgage (FRM) Flexible Payment ARM Float Foreclosure Freddie Mac Fully Amortizing Payment Fully Indexed Interest Rate Send an email customercare@amerifirst.com Call us 800.466.5626 Get started Apply online today CONTACT US BRANCH LOCATOR CAREERS PRESS PAY MY FEES PAYMENT ASSISTANCE NMLS Consumer Access | Email and Financial Privacy | Licensing Cyber Security Equal Housing Lender A division of Amerifirst Financial Corporation 950 Trade Centre Way, Suite 400 Kalamazoo, MI 49002 NMLS ID #110139 This is not a commitment to lend. Not all borrowers will qualify; contact us for more information on fees and terms. © 2018. All rights reserved.