A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related MoneyPedia terms
- MortgageA loan used to buy a home, where the property itself acts as collateral the lender can take if you stop paying.
- DeedThe legal document that transfers and proves ownership of a property from one party to another.
- Home EquityThe share of your home you truly own, equal to its market value minus what you still owe on the mortgage.
- Title InsuranceCoverage that protects you and the lender against hidden ownership claims or legal disputes over a property.
- Credit ScoreA number that sums up how you've handled borrowing, shaping the rates you're offered.
- Debt-to-Income Ratio (DTI)The share of your monthly income that goes to debt payments — a key number lenders check.
More in Real Estate
Adjustable-Rate Mortgage (ARM)Annual Percentage Rate (APR)AppraisalClosing CostsDown PaymentEarnest Money
Plain-English education — not personalized legal, tax, or investment advice.