1-866-840-0279Glossary of Terms
Here are some of the most common terms used during the reverse mortgage loan process. Click on the term for the definition.
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Recent Articles
What are the Index and Margin for an Adjustable-Rate Mortgage?
The interest of adjustable-rate mortgages (ARM) are tied to the index and margin. The index is a reference point for the interest rate and...
What is a Lender Credit?
Many banks and mortgage lenders often offer borrowers lender credits to help pay for closing costs. Here we’ll discuss lender credits in...
What is the Mortgage Interest Rate Index?
The mortgage interest rate index is a benchmark that adjustable-rate mortgages (ARMs) base their fully indexed interest rates on. The...
Recent Articles
What are the Index and Margin for an Adjustable-Rate Mortgage?
The interest of adjustable-rate mortgages (ARM) are tied to the index and margin. The index is a reference point for the interest rate and...
What is a Lender Credit?
Many banks and mortgage lenders often offer borrowers lender credits to help pay for closing costs. Here we’ll discuss lender credits in...
What is the Mortgage Interest Rate Index?
The mortgage interest rate index is a benchmark that adjustable-rate mortgages (ARMs) base their fully indexed interest rates on. The...