Mortgage Glossary
Mortgage language gets technical fast. This glossary translates common lending terms into plain English so you can compare loan options, understand disclosures, and move through underwriting with fewer surprises.
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C
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Cash to Close
The final dollar amount you need to wire or bring to closing.
Cash to close is the total amount of money you must bring to the closing table after subtracting your loan amount, deposits, credits, and prepaid items.
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Closing Costs
The collection of fees charged to finalize your mortgage and transfer ownership.
Closing costs are the lender, title, escrow, recording, and prepaid fees paid to complete a mortgage transaction.
D
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Debt Service Coverage Ratio (DSCR)
A ratio that compares a property's rent to its monthly mortgage-related expenses.
DSCR measures whether a property's rental income is enough to cover its housing payment, and it is a core qualifying metric for investor DSCR loans.
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Debt-to-Income Ratio (DTI)
A percentage showing how much of your income goes toward monthly debt obligations.
DTI compares your monthly debt payments to your gross monthly income and is one of the main ways mortgage lenders measure affordability.
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