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Mortgage Glossary

The mortgage glossary helps you understand technical mortgage terms used throughout our web site. Use the menu below to navigate alphabetically to the term you are looking for.

  1. Land Contract
  2. Late Charge
  3. Lender
  4. LIBOR (London Interbank Offered Rate)
  5. Lien
  6. Listing Agent
  7. Loan Application
  8. Loan Balance
  9. Loan Estimate
  10. Loan Fraud
  11. Loan-to-Value Ratio (LTV)
  12. Lock or Lock-In Period
  13. Long-Term Loan
  14. Loss Mitigation

Based on Quicken Loans internal data.

The payment on a $200,000 30-year fixed-rate loan at 3.875% with a 70% loan-to-value ratio is $940.48 with .25 points due at closing. The annual percentage rate (APR) is 3.968%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. By refinancing your existing loan, the total finance charges may be higher over the life of the loan. Some state and county maximum loan amount restrictions may apply.