Homeowners who need cash to settle outstanding debts or purchases (credit cards, other mortgages, etc.) can choose a cash-out refi. The cash-out refi buys out the original loan plus settlement costs and awards cash to the owner. Critical variables in the process can include income tax, interest rates, and mortgage insurance requirements.

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | 0-100

A

Adjustable Rate Mortgages (ARMS)
Adjustable Rate Refi (Refinance)
Amortization
Annual Percentage Rate (APR)
Assumable Loans

B

Bad Credit Refi (Refinance)
Balloon Loans
BC & D Lender or Loan
Buydown

C

Cash-Out Refi
Closing
Closing Costs
Conventional Mortgage
Convertible ARM
Cosigner
Credit Report
Credit Score

D

Debt Consolidation
Debt Ratio
Default
Discount Rate
Down-payment

E

Effective Rate
Equity
Escrow
Back to Top

F

FHA (Federal Housing Authority) Loan
Fixed Rate Mortgages
Fixed Rate Refi (Refinance)
Foreclosure
Fully Amortizing Payment
Fully Indexed Interest Rate

G

Government Loans
Graduated Payment Mortgages
Growing Equity Mortgage

H

Home Equity Line of Credit (HELOC)
Home Equity Loan (second mortgage)
Housing Ratio
Hybrid ARM

I

Index
Interest Due
Interest Only Loan
Interest Only Refi (Refinance)
Interest Rate

J

Jumbo (or Non-Conforming) Loans
Jumbo Loan Refi
Back to Top

K

L

Lenders Margin
Lien
Loan to Value (LTV) Ratio
Lock-in

M

Mortgage
Mortgage Broker
Mortgage Company
Mortgage Insurance
Mortgage Lender
Mortgage Reduction Programs
Mortgage Term

N

Negative Amortization
Negative Points

O

Option ARM
Back to Top

P

PITI
PMI (Private Mortgage Insurance)
Points
Prepayment Penalty
Pre-Approval
Pre-qualification
Principal
Property Appraisal

Q

Qualification

R

Rate Protection
Refinancing
Residual Income

S

Second Mortgage
Servicing
Sub-Prime Borrower
Sub-Prime Lender

T

Term
Truth in Lending Law
Back to Top

U

Underwriter
Uniform Residential Loan Application (1003)

V

VA (Veterans Administration) Loan

W

Wrap-around Mortgage

X

Y

Back to Top

Z

0-100

80/10/10, 80/15/5, and 80/20/0 loan plans
100% Loan