Debt to Income
The percentage of total gross income accounting for the borrower’s total monthly debt load, including mortgage.
The monthly taxes and insurance, of a mortgage payment, that are set aside and paid by the mortgage servicing company when it is time to renew.
Total amount borrowed.
Loan to Value
Also referred to as LTV is the equation of how much someone is borrowing against the value (appraisal) of the property.
A policy that protects lenders against losses that result from defaults on home mortgages.
The combined total of Principal, Interest, Taxes, and Insurance.
Single Premium Mortgage Insurance
One-time upfront mortgage insurance.