Glossary

Mortgage talk,
translated.

Mortgage language gets technical fast. These plain-English definitions help you compare loan options, read disclosures, and move through underwriting with fewer surprises.

Jump to a letter

A C D E L M P R

A

Appraisal

A lender-ordered valuation that estimates what the home is worth in the current market.

Home Value

C

Cash to Close

The final dollar amount you need to wire or bring to closing.

Closing
Closing Costs

The collection of fees charged to finalize your mortgage and transfer ownership.

Closing

D

E

Escrow

A third-party process or account used to handle funds securely during and after closing.

Closing

L

Loan Estimate

The early disclosure that outlines a mortgage offer's rate, payment, and fees.

Disclosures

M

Mortgage Insurance Premium (MIP)

The FHA version of mortgage insurance.

Mortgage Insurance

P

Private Mortgage Insurance (PMI)

Conventional-loan mortgage insurance that is typically required below 20% down.

Mortgage Insurance

R

Rate Lock

A temporary hold on your mortgage interest rate.

Pricing

Welcome

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Keep an eye on your inbox — gentle, useful notes on rates, the market, and homeownership.

The Letter

Gentle notes on rates, the market, & homeownership.

A short letter — never crowded, never frequent — for people thinking about their first home, their next home, or a refinance.

Mortgage talk,
translated.

Appraisal

Cash to Close

Closing Costs

Debt Service Coverage Ratio (DSCR)

Debt-to-Income Ratio (DTI)

Escrow

Loan Estimate

Mortgage Insurance Premium (MIP)

Private Mortgage Insurance (PMI)

Rate Lock

Mortgage talk,translated.

Appraisal

Cash to Close

Closing Costs

Debt Service Coverage Ratio (DSCR)

Debt-to-Income Ratio (DTI)

Escrow

Loan Estimate

Mortgage Insurance Premium (MIP)

Private Mortgage Insurance (PMI)

Rate Lock

Lovely. You're in.

Gentle notes on rates, the market, & homeownership.

Mortgage talk,
translated.