Home Loan Vocabulary

Learn the definitions of many terms and phrases that are commonly associated with home buying, mortgages, refinancing, home equity loans and more.

Select one of the following links to view vocabulary terms for that letter/number, or select "View All" to see all terms.

Frequently Asked Question
What is RESPA?
Answer:
Real Estate Settlement Procedures Act. It is an act which was initiated to protect consumers by requiring lenders to disclose certain information to the borrower. Under RESPA, lenders must inform the borrower of things such as all closing costs, interest rates, escrow accounts, and several other factors that are involved with your mortgage.
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