Real Estate and Mortgage Glossary & Definitions

Z  

 
Acceleration clause
Adjustable-rate mortgage (ARM)
Adjustment date
Amortization
Amortization schedule
Annual percentage rate (APR)
Application
Appraisal
Appraised value
Appraiser
Appreciation
Assessed value
Assessment
Assessor
Asset
Assignment
Assumable mortgage
Assumption
 

top of page

 
Balloon mortgage
Balloon payment
Bankruptcy
Bill of sale
Biweekly mortgage
Bond market
Bridge loan
Broker
Buydown
 

top of page

 
Call option
Cap
Cash-out refinance
Certificate of deposit
Certificate of deposit index
Certificate of Eligibility
Certificate of Reasonable Value (CRV)
Chain of title
Clear title
Closing
Closing costs
Co-borrower
Collateral
Collection
Commission
Common area assessments
Common areas
Common law
Community property
Comparable sales
Condominium
Condominium conversion
Condominium hotel
Construction loan
Contingency
Contract
Conventional mortgage
Convertible ARM
Cooperative (co-op)
Cost of funds index (COFI)
Credit
Credit history
Creditor
Credit report
Credit repository
 

top of page

 
Debt
Deed
Deed-in-lieu
Default
Delinquency
Deposit
Depreciation
Discount points
Down payment
Due-on-sale provision
 

top of page

 
Earnest money deposit
Easement
Effective age
Eminent domain
Encroachment
Encumbrance
Equal Credit Opportunity Act (ECOA)
Equity
Escrow
Escrow account
Escrow analysis
Escrow disbursements
Estate
Eviction
Examination of title
Exclusive listing
Executor
 

top of page

 
Fair Credit Reporting Act
Fair market value
Fannie Mae (FNMA)
Federal Housing Administration (FHA)
Fee simple
Fee simple estate
FHA mortgage
Firm commitment
First mortgage
Fixed-rate mortgage
Fixture
Flood insurance
Foreclosure
401(k)/403(b)
401(k)/403(b) loan
 

top of page

What's Your Home Worth? Instant Property Valuations

 
Government loan (mortgage)
Government National Mortgage Association (Ginnie Mae)
Grantee
Grantor
 

top of page

 
Hazard insurance
Home Equity Conversion Mortgage (HECM)
Home equity line of credit
Home inspection
Homeowners' association
Homeowner's insurance
Homeowner's warranty
HUD median income
HUD-1 settlement statement
 

top of page

 
Impact fees
Implied warranty of habitability
Impounds
Income property
Incurable defect
Index
Individual Retirement Account
In-file credit report
Infill development
Infill housing
Inflation
Infrastructure
Initial interest rate
Inspection report
Installment contract
Insulation
Insurable title
Insurance
Insurance binder
Interest
Interest accrual rate
Interest-only loan
Interest rate
Interest rate buy-down plans
Interest rate caps
Interest rate ceiling
Investment property
 

top of page

 
Joint tenancy
Judgment
Judicial foreclosure
Jumbo loan
 

top of page

 
Kit home
Knee wall
Knob-and-tube wiring
 

top of page

 
Late charge
Lease
Leasehold estate
Lease option
Legal description
Lender
Liabilities
Liability insurance
Lien
Life cap
Line of credit
Liquid asset
Loan
Loan officer
Loan origination
Loan servicing
Loan-to-value (LTV)
Lock-in
Lock-in period
 

top of page

What's Your Home Worth? Instant Property Valuations

 
Margin
Maturity
Merged credit report
Modification
Mortgage
Mortgage banker
Mortgage broker
Mortgagee
Mortgage insurance (MI)
Mortgage insurance premium (MIP)
Mortgage life and disability insurance
Mortgagor
Multidwelling units
 

top of page

 
Negative amortization
No cash-out refinance
No-cost loan
Note
Note rate
No-cost loan
Notice of default
 

top of page

 
Original principal balance
Origination fee
Owner financing
 

top of page

 
Partial payment
Payment change date
Periodic payment cap
Periodic rate cap
Personal property
PITI
PITI reserves
Planned unit development (PUD)
Point
Power of attorney
Pre-approval
Prepayment
Prepayment penalty
Pre-qualification
Prime rate
Principal
Principal balance
Principal,interest, taxes, and insurance (PITI)
Private mortgage insurance (MI)
Promissory note
Public auction
PUD (Planned Unit Development)
Purchase agreement
Purchase money transaction
 

top of page

 
Qualifying ratios
Quitclaim deed
 

top of page

 
Rate lock
Real estate agent
Real Estate Settlement Procedures Act (RESPA)
Real property
Realtor^�
Recorder
Recording
Refinance transaction
Remaining balance
Remaining term
Rent loss insurance
Repayment plan
Replacement reserve fund
Revolving debt
Right of first refusal
Right of ingress or egress
Right of survivorship
 

top of page

What's Your Home Worth? Instant Property Valuations

 
Sale-leaseback
Second mortgage
Secondary market
Secured loan
Security
Seller carry-back
Servicer
Servicing
Settlement statement
Subdivision
Subordinate financing
Survey
Sweat equity
 

top of page

 
Tenancy in common
Third-party origination
Title
Title company
Title insurance
Title search
Transfer of ownership
Transfer tax
Treasury index
Truth-in-Lending
Two-step mortgage
Two- to four-family property
Trustee
 

top of page

 
Underlayment
Underwriting
Undisclosed heir
Undisclosed spousee
Unrecorded deed
U.S. Departmet. of Housing and Urban Development (HUD)
Unsecured loan
Upgrades
Upzoning
Urban sprawl
Usury
 

top of page

 
Variable interest rate
Variable rate mortgage
Variable rate
Vaulted ceiling
Verification of deposit
Verification of employment
Vestibule
Victorian style
Vinyl-clad windows
Voluntary lien
VA mortgage
Vested
Veterans Administration (VA)
 

top of page

 
Wainscoting
Waiver
Walk-out basement
Walk-through
Warranty
Wetlands
Wild deed
Will
Window light
Window seat
Window well
Window well covers
Wraparound mortgage
 

top of page

 
Zero-lot lines
Zoning
Zoning variance
 

top of page

What's Your Home Worth? Instant Property Valuations