Glossary of Mortgage Terms

Shopping for a mortgage? If you are one of the tens of thousands of today's home shoppers, you probably have discovered that mortgage lending has a language all its own. For example, you've probably heard about "points", "margins", and "repayment penalties." Should you look for an "assumption?" What are "acceleration clauses?" For the unprepared, this new terminology can be quite confusing. As with any contract, before you sign your mortgage, you should know what you are signing.

Click here for the Glossary (PDF).