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glossary of terms



What kind of paperwork and records will I need to complete my loan application?


What is a credit check?

What is meant by the term "debt ratio?"

What is "Fannie Mae," "Ginnie Mae," and "Freddie Mac?"

What are the current Fannie Mae and Freddie Mac conventional loan limits?

What are FHA and VA?

What are the maximum FHA and VA loan amounts?

What is private mortgage insurance?

What is the advantage of using a direct mortgage lender for my home loan?

What is an ARM?

What is a fixed-rate loan?

What is a settlement statement?
   

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