Legal Information & Disclaimers

Government Home Loans is an agent for Liberty Financial Mortgage Group, Inc. a licensed equal housing lender. We lend in the following States: Alabama, Alaska, Arizona, California, Colorado, Connecticut, Florida, Georgia, Illinois, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, New Hampshire, New York, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and Washington D.C.

Mortgage Glossary & Terms

Click on the letter or the word for an explanation.


A B C D E F G H I J L M N O P Q R S T V

abstract of title
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
balloon mortgage
balloon payment
bankruptcy
bill of sale
biweekly mortgage
bond market
bridge loan
broker
buydown
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
closing statement
cloud on title
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
debt
deed
deed-in-lieu
deed of trust
default
delinquency
deposit
depreciation
discount points
disintermediation
down payment
due-on-sale provision
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
Fair Credit Reporting Act
fair market value
Fannie Mae (FNMA)
Fannie Mae's Community Home Buyer's Program
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
government loan (mortgage)
Government National Mortgage Association (Ginnie Mae)
grantee
grantor
hazard insurance
Home Equity Conversion Mortgage (HECM)
home equity line of credit
home inspection
Homeowners' Protection Act
Homestead Tax Exemption
Housing and Urban Development, Department of (HUD)
Hypothecate
Index
Ingress and Egress (Legal Access)
Institutional Lender
Intangible Tax
Interest
Intermediation
Involuntary Lien
joint tenancy
judgment lien
late charge
legal description
lien
line theory
lis pendens
loan
loan-to-value (LTV)
loss payable clause
margin
mortgage
mortgagee
mortgage insurance (MI)
mortgage insurance premium (MIP)
mortgagor
negative amortization
note
Office of Comptroller of the Currency (OCC/COC)
origination fee
owner title insurance
package mortgage
participation loan
point of beginning (POB)
prepayment penalty clause
prepayment privilege clause
principal
private mortgage insurance (PMI)
purchase money mortgage (PMM)
purchase money transaction
quitclaim deed
real estate sales contract
Real Estate Settlement Procedures Act (RESPA)
real property
recording
right of redemption (equitable right of redemption)
right of rescission
right of survivorship
Rural Housing Services (RHS)
secondary market
security interest
servicing
survey
sweat equity
tenancy in common
title
title insurance policy
title search
Truth-in-Lending Act (Regulation "Z")
VA loan








 

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