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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. Online Mortgage Lender

Client will receive 0.50 discount points off current pricing. One point is equal to 1% of the loan amount. Offer only valid on purchase and refinance loan amounts of $100,000 or higher. This offer is only available to clients who lock their interest rate while completing the application process before 11:59 p.m. ET on December 1, 2020. Offer valid on team member referral loans. This offer cannot be retroactively applied to previously closed loans or loans already in process. Offer does not apply to new loans submitted to Quicken Loans through a mortgage broker, non-agency jumbo loans, Charles Schwab loans, portfolio loans, United States Department of Agriculture (USDA) loans, agency plus loans, Rocket Pro loans or team member loans. Quicken Loans reserves the right to cancel this offer at any time. Acceptance of this offer constitutes acceptance of these terms and conditions, which are subject to change at the sole discretion of Quicken Loans. Offer may not be redeemed for cash or credit, and no change will be given if the discount amount exceeds costs otherwise due. Offer is nontransferable. This is not a commitment to lend. Additional restrictions/conditions may apply. Offer not valid with any additional discounts or promotions.

Client will receive a closing credit of $1,500 on their Closing Disclosure if they receive their approval letter between 12:00 a.m. ET on November 30, 2020, and 11:59 p.m. ET on December 1, 2020, and submit their loan application by 11:59 p.m. ET on December 31, 2020. Offer only valid on new purchase loans in the amount of $100,000 or higher. Offer valid on team member referral loans. This offer cannot be retroactively applied to previously closed loans or loans already in process. Offer does not apply to new loans submitted to Quicken Loans through a mortgage broker, non-agency jumbo loans, Charles Schwab loans, portfolio loans, United States Department of Agriculture (USDA) loans, agency plus loans, Rocket Pro loans or team member loans. Quicken Loans reserves the right to cancel this offer at any time. Acceptance of this offer constitutes acceptance of these terms and conditions, which are subject to change at the sole discretion of Quicken Loans. Offer may not be redeemed for cash or credit, and no change will be given if the discount amount exceeds costs otherwise due. Offer is nontransferable. This is not a commitment to lend. Additional restrictions/conditions may apply. Offer not valid with any additional discounts or promotions.