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HELPFUL TERMS from CTC
Welcome to our Helpful Terms section. We appreciate your interest and hope that you find our terms helpful. If you have any questions, please do not hesitate to contact us.

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

A
Abstract of Title
Acceleration Clause
Adjustable Rate Mortgage
Agreement of Sale
Amortization
Amortization Schedule

Annual Percentage Rate
Appraisal
Appreciation
Assessed Value
Assumption of Mortgage

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B
Balloon
Blanket Mortgage
Building Line or Setback


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C
CAP
Cash Reserve
Certificate of Title
Clear Title
Closing Day or Settlement
Cloud
Collateral
Commission
Commitment Letter
Condominium
Contingency
Contractor
Convenant
Conventional Mortgage
Convertible ARM
Conveyance
Cooperative
Credit Report

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D
Deed
Deed of Trust
Default
Documentary or Tax Stamps:
Down Payment
Due-on-Sale Clause


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E
Earnest Money
Easement
Encroachment
Encumbrance
Equal Credit Opportunity Act (ECOA)
Equity
Equity Loan
Escrow Payment


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F
Fair Credit Reporting Act

Fannie Mae

FHA Mortgage

First Mortgage

Fizzbo (FSBO)

Fixed Rate Loan

Flood Insurance

Forbearance

Foreclosure

Freddie Mac


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G
General Warranty Deed
Graduated Payment Mortgage
Grantee
Grantor


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H
Hazard Insurance
Homeowners Insurance
Homeowners Warranty (HOW)
HUD


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I
Interest
Interest Rate Cap



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J
Joint Tenancy


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L
Late Charge
Leverage
Lien
Lifetime Cap
Loan Servicing

Loan-to-Value Percentage (LTV)

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M
Marketable Title
Maturity
Mortgage
Mortgage Banker
Mortgage Broker

Mortgage Commitment
Mortgage Insurance Premium (MIP)
Mortgage Insurance Rate
Mortgage Margin
Mortgage Note
Mortgage (Open-End)
Mortgagee
Mortgagor

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N
Negative Amortization
Notice of Default


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O
Origination Fee
Owner Financing


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P
Payment Cap
PITI
Planned Unit Developments (PUDs)
Plat
Points

Premium
Prepayment
Prequalification
Principal
Private Mortgage Insurance (PMI)

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Q
Qualifying Ratios
Quitclaim Deed


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R
Real Estate Broker
Real Estate Settlement Procedures Act (RESPA)
Refinancing
Restrictive Covenants


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S
Second Mortgage
Secondary Mortgage Market
Seller-Take-Back
Seller-Take-Back
Special Assessments

Special Lien
Special Warranty Deed
Survey

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T
Tax
Tenancy by Entirety
Tenancy in Common
Title
Title Company

Title Insurance
Title Search or Examination
Transfer Tax (or Grantors Tax)
Truth-in-Lending

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U
Underwriting


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V
VA Loan


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Z
Zoning Ordinances


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