Mortgage Terminology
From APR to amortization, mortgages come with a lot of tricky terminology. But it doesn't have to remain a foreign language.
APR vs. interest rate: What's the difference?
Interest rate and annual percentage rate are terms you’ll often see when comparing mortgages and other loans. Learn the difference between APR and interest rate.
Amortization definition and explanation
Amortization is the gradual, scheduled repayment of a loan over time. Learn here why it’s important to know how amortization works.
Featured resources
Benefits of a Verified Approval Letter
A Verified Approval Letter shows the seller that your offer should be taken seriously. Learn how a VAL can be an advantage that gets your home offer accepted.
How to buy down the interest rate on your mortgage
Buydowns are methods used by buyers and sellers to lower interest rates in the early years of a new mortgage. Find out if a buydown is right for you.
Calculating mortgage amortization
A mortgage amortization schedule shows a breakdown of your monthly mortgage payment over time. Figure out how to calculate your mortgage amortization.
Closing Disclosure: What it is and how to read it
Your Closing Disclosure is an important mortgage document, but it can be difficult to interpret. We broke down the essential components in this complete guide.
What is debt-to-income ratio (DTI)?
Your debt-to-income ratio (DTI) measures your total income against any debt you have. Learn what a good DTI is, how to calculate it and how to lower it.
Different types of government-backed home loans
Government home loans offer low interest rates and flexible credit requirements. Here’s what’s available and how you can qualify.
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