Mortgage Abbreviations & Definitions

Sometimes you may hear or see acronyms or abbreviations for terms commonly used by mortgage lenders. Here is a quick reference tool to help you.

Click on a term to view a complete definition. See other definitions in our Glossary of Mortgage Terms:

• ARM = Adjustable Rate Mortgage
• FHA = Federal Housing Authority
• FHLMC = Federal Home Loan Mortgage Corporation
• FMV = Fair Market Value
• FNMA = Federal National Mortgage Association
• FRM = Fixed-Rate Mortgage
• GFE = Good Faith Estimate
• HELOC = Home Equity Line of Credit
• HUD = (U.S. Department of) Housing and Urban Development
• LIBOR = London Inter-bank Offered Rate
• LTV = Loan to Value Ratio
• MIP = Mortgage Insurance Premium
• PITI = Principal, Interest, Taxes and Insurance
• PMI = Private Mortgage Insurance
• TIL = Truth in Lending
• VA Loan – Veterans Administration Loan
  

Visit our Online Mortgage Center or call us at (804) 323-6800 or (800) 285-6609 if you have questions or if we can help you in any way.