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.

  • ARM = Adjustable Rate Mortgage
  • CD = Closing Disclosure
  • FHA = Federal Housing Administration
  • FMV = Fair Market Value
  • FRM = Fixed-Rate Mortgage
  • HELOC = Home Equity Line of Credit
  • HUD = (U.S. Department of) Housing and Urban Development
  • LIBOR = London Inter-bank Offered Rate
  • LE = Loan Estimate
  • 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


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