In advance Costs: the fresh new charges energized so you can property owners by the lender during the time off closure an interest rate
Freddie Mac computer and you may Fannie mae finance was known as conforming financing

Import Broker: a financial or believe providers faced with remaining tabs on good organization's stockholders and you can canceling and providing licenses as the shares is actually bought and sold.
Transfer of Ownership: people means by which possession off a property transform hand. These are generally acquisition of a home, assumption off mortgage financial obligation, exchange from hands from property thru a land conversion contract and other house believe equipment.
Import Taxation: Condition and regional taxation charged on transfer out of a property. Always equivalent to a portion of your own conversion rates.
Treasury Index: can be used just like the basis for varying rate mortgages (ARMs) It is according to research by the outcome of auctions your U.S. Treasury retains for its Treasury expense and you will ties.
Truth-in-Lending: a national laws obligating a lender to give complete written disclosure of the many fees, terms and conditions, and standards associated with the mortgage first several months immediately after which adjusts to some other price one can last for the word of one's loan.
Two step Mortgage: a variable-rate home loan (ARM) that one to interest into basic five so you can seven numerous years of the name and you may yet another rate of interest with the rest of the label.