Below is an A-Z glossary of general terms used within the mortgage industry. Click on any term to view a detailed explanation. Use the alphabet below to navigate quickly to a term beginning with:
Lenders will have certain ratios that must be complied with in order for a borrower to be eligible for a mortgage. For example, there will be set maximums of the ratios of income to housing expense such as 30%; other ratios may include ones such as the loan to value of the property.