Mortgage terms sound less intimidating when they are tied to real decisions. This glossary gives borrowers clear language they can use when comparing programs and preparing documents.
Mortgage terms sound less intimidating when they are tied to real decisions. This glossary gives borrowers clear language they can use when comparing programs and preparing documents.
| Term | Meaning |
|---|---|
| Pre-approval | An early review of your file used to estimate how much you may be able to borrow and under what general terms. |
| Debt-to-income ratio | A comparison between your qualifying monthly debt obligations and gross monthly income. |
| Loan-to-value ratio | The loan amount compared with the property value or purchase price, depending on the situation. |
| Escrow | The neutral closing process that coordinates documents, money movement, and title-related tasks. |
| Underwriting | The stage where the lender reviews the file against program and investor requirements. |
| Rate lock | An agreement that holds certain loan pricing terms for a set period while the transaction moves forward. |
Use these pages to keep comparing your options.
Tell us whether you are buying, refinancing, or still comparing programs. We will review the basics, explain what documents matter, and help you decide whether pre-approval, a rate quote, or a direct consultation is the right next move.
