House to Home

Mortgage Acronyms 101

Posted by Morgan Saylor on 4/8/16 7:30 PM

When you go to apply for a mortgage in the first step to becoming a home owner, you may feel like you’ve been dropped off into some remote land where the language is alien to you. You are not alone!

 

At SMC, we try to keep the jargonish language to a minimum, but somewhere in your home buying journey you may come across some terms and scratch your head in wonder. Luckily, Trulia has compiled a list of commonly used and misunderstood acronyms used in the industry.

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Topics: Mortgage, Banking, ARM, PMI, IO, industry, DTI, acroynms

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