Mortgage Jargon in Simple Terms

mortgage document
mortgage document

Obtaining a mortgage loan means dealing with a lot of paperwork, from the documents you have to submit to documents you have to read and sign. More often than not, you're dealing with terms and conditions on various mortgage types that may be so difficult to understand that you just want to pull out your hair. But not understanding the terms of the loan could mean a very costly mistake on one of the most expensive purchases you'll ever make.

So before you sign on the dotted line, you should learn some basic mortgage terminology to keep your eyes from glazing over when you hear words like "amoritization" and "PITI." To help you tackle them, here's our guide to the top mortgage terms you need to know.