Glossary

Adjustable Rate Amortization Annual Membership Annual Percentage Rate (APR) Application Application Fee Appraisal Assumption of Mortgage Balloon Payment Cap Cash Out Ceiling Closing Costs Conforming Loan Contract of Sale Credit Limit Debt Service Deed of Trust Discount Points (or Points) Down Payment Due on Sale Effective Interest Rate Encumbrance Equity First Mortgage Fixed Rate FHA Loan Good Faith Estimate Grace Period Gross Income Home Equity Line of Credit