Dictionary

Search for real estate and mortgage terms

Real Estate Dictionary contains a comprehensive list of real estate and mortgage terms and definitions for home buyers, home sellers, and real estate consumers with expanded definitions of the most important real estate and mortgage home loan terms. This dictionary is made available by Houston area REALTORS®. Please use the real estate dictionary term index section containing an alphabetical list of words with information about them.
Search Mortgage Term  
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Margin 
The number of percentage points a lender adds to the index value to calculate the ARM interest rate at each adjustment period. A representative margin would be 2.75%.
 
Mortgage
A legal document that pledges a property to the lender as security for payment of a debt  
 
Mortgage Disability Insurance
A disability insurance policy which will pay the monthly mortgage payment in the event of a covered disability of an insured borrower for a specified period of time.
 
Mortgage Insurance (mi)
Insurance written by an independent mortgage insurance company protecting the mortgage lender against loss incurred by a mortgage default. Usually required for loans with an LTV of 80.01% or higher.
 
Mortgagee
The person or company who receives the mortgage as a pledge for repayment of the loan. The mortgage lender.
 
Mortgagor
The mortgage borrower who gives the mortgage as a pledge to repay.