Mortgage paperwork is full of words nobody explains before they hand it to you. This glossary covers 200 of the terms you are most likely to run into while buying a home, refinancing, or reading a loan estimate, defined in plain English and organized alphabetically so you can jump straight to the one you need.
Use the letter links below to jump to any section, or scroll through the whole list if you want the full picture.
A · B · C · D · E · F · G · H · I · J · L · M · N · O · P · Q · R · S · T · U · V · W · Y · Z
A
Acceleration Clause. A provision in a mortgage that allows the lender to demand full repayment of the loan immediately if the borrower defaults or violates the terms of the loan.
Adjustable Rate Mortgage (ARM). A mortgage with an interest rate that stays fixed for an initial period, often five or seven years, then adjusts periodically based on a market index.
Affordability. How much home a borrower can comfortably afford based on income, debts, down payment, and current interest rates, which is not always the same as the maximum amount a lender approves.
Amortization. The process of paying off a loan over time through regular payments that cover both principal and interest, gradually reducing the balance to zero.
Amortization Schedule. A table showing each payment over the life of a loan, broken down into how much goes toward principal and how much goes toward interest.
Annual Percentage Rate (APR). The yearly cost of a loan expressed as a percentage, including the interest rate plus certain fees, used to compare loan offers.
Appraisal. A professional estimate of a property's market value, required by lenders to confirm the home is worth what the buyer agreed to pay.
Appraisal Gap. The difference between a home's appraised value and a higher price the buyer agreed to pay, which the buyer typically has to cover in cash if the purchase agreement does not address it.
Appraised Value. The dollar value a licensed appraiser assigns to a property after inspecting it and comparing it to similar recently sold homes.
Appraiser. The licensed professional who inspects a property and prepares the appraisal report used to determine its market value.
Appreciation. An increase in a property's value over time, typically driven by market demand, improvements, or general economic growth in the area.
Assessed Value. The value a local tax authority assigns to a property to calculate property taxes, which can differ from its market or appraised value.
Asset. Anything of value a borrower owns, such as cash, investments, or property, that a lender may consider when evaluating a loan application.
Asset Depletion Loan. A mortgage that qualifies a borrower using the value of their liquid assets divided over a set number of months, rather than traditional employment income.
Assumable Mortgage. A mortgage that allows a buyer to take over the seller's existing loan, including its interest rate and remaining balance, subject to lender approval.
Automated Underwriting System (AUS). Software used by lenders to quickly evaluate a loan application against program guidelines and issue a preliminary approval decision.
B
Balloon Mortgage. A loan with lower monthly payments for a set period, after which the remaining balance becomes due in one large final payment.
Bank Statement Loan. A mortgage that qualifies a borrower using bank deposits instead of tax returns, commonly used by self employed borrowers.
Bankruptcy. A legal process that allows individuals or businesses to eliminate or reorganize debt, which can affect mortgage eligibility for a period of time afterward.
Biweekly Mortgage Payment. A payment schedule that splits the monthly mortgage payment in half and collects it every two weeks, resulting in one extra full payment per year that shortens the loan term.
Bridge Loan. A short term loan that lets a buyer purchase a new home before selling their current one, using the equity in the current home.
Buydown. A financing arrangement where money is paid upfront to lower the interest rate on a loan, either temporarily or for the life of the loan.
Buyer's Market. A real estate environment where more homes are listed for sale than there are buyers, generally giving buyers more negotiating leverage on price and terms.
C
Cash Out Refinance. A refinance that replaces your existing mortgage with a larger loan, giving you the difference in cash based on your home's equity.
Cash Reserves. Liquid funds a borrower has left over after closing, used by lenders to confirm the borrower could continue making payments through a temporary financial setback.
Cash to Close. The total amount of money a buyer needs at closing, including the down payment, closing costs, and any prepaid items.
Certificate of Eligibility (COE). A document issued by the Department of Veterans Affairs confirming a borrower's eligibility for a VA loan.
Chain of Title. The historical record of ownership for a piece of property, tracing every past owner back to the property's original transfer.
Clear to Close. The final stage of underwriting where a lender confirms all conditions have been met and the loan is approved to close.
Closing. The final step in a real estate transaction where documents are signed, funds are transferred, and ownership officially changes hands.
Closing Costs. The fees and expenses paid at closing beyond the down payment, including lender fees, title work, appraisal, and recording fees.
Closing Disclosure. A legally required document outlining the final terms and costs of a mortgage, provided to the borrower at least three business days before closing.
Co Borrower. A person who applies for a mortgage alongside the primary borrower and shares responsibility for repaying the loan, often with ownership interest in the property.
Co Signer. A person who agrees to be responsible for a loan if the primary borrower fails to pay, without necessarily holding ownership in the property.
Collateral. An asset, such as a home, that is pledged to secure a loan and can be taken by the lender if the borrower fails to repay.
Combined Loan to Value (CLTV). The total of all loans secured by a property, including a first mortgage and any second mortgage or home equity line, divided by the home's value.
Comparable Sales (Comps). Recently sold homes similar in size, condition, and location to the property being appraised, used to help determine market value.
Conditional Approval. A loan approval that depends on the borrower satisfying specific remaining requirements before final approval is issued.
Condominium. A type of ownership where a buyer owns an individual unit within a larger building or community while sharing ownership of common areas with other unit owners.
Conforming Loan. A mortgage that meets the size and guideline requirements set by Fannie Mae and Freddie Mac, allowing it to be sold on the secondary market.
Construction Loan. A short term loan used to finance the building of a new home, typically converted into a permanent mortgage once construction is complete.
Contingency. A condition in a purchase agreement that must be satisfied for the sale to proceed, such as a home inspection or financing contingency.
Conventional Loan. A mortgage not backed by a government agency, typically requiring stronger credit than government backed programs but offering more flexibility once equity builds.
Credit Inquiry. A record created when a lender or creditor checks a person's credit report, which can have a small, temporary effect on a credit score.
Credit Report. A detailed record of a person's credit history, including accounts, payment history, and any collections or public records.
Credit Score. A three digit number summarizing a person's credit risk, used by lenders to help determine loan eligibility and pricing.
D
Debt to Income Ratio (DTI). The percentage of gross monthly income that goes toward monthly debt payments, one of the primary factors lenders use to determine how much you qualify to borrow.
Deed. The legal document that transfers ownership of real property from one party to another.
Deed in Lieu of Foreclosure. An arrangement where a borrower voluntarily transfers property ownership to the lender to avoid the foreclosure process.
Default. Failing to meet the legal obligations of a loan, most commonly by missing payments.
Delinquency. The status of a loan when a payment has not been made by its due date.
Depreciation. A decrease in a property's value over time, which can result from market conditions, neglect, or broader economic factors.
Discount Points. An upfront fee paid at closing to permanently lower the interest rate on a mortgage, with one point equal to one percent of the loan amount.
Down Payment. The portion of a home's purchase price paid upfront in cash, with the remainder financed through the mortgage.
Down Payment Assistance (DPA). A grant, loan, or other program that helps a buyer cover some or all of the down payment and closing costs required to purchase a home.
DSCR Loan. A loan for investment property that qualifies based on the property's rental income rather than the borrower's personal income.
Due on Sale Clause. A provision in most mortgages requiring the full loan balance to be paid off when the property is sold or transferred.
E
Earnest Money. A deposit made by a buyer to show good faith when submitting an offer, typically held in escrow and applied toward closing costs at closing.
Easement. A legal right allowing someone other than the property owner to use a portion of the property for a specific purpose, such as utility access.
Encumbrance. Any claim, lien, or restriction on a property that may affect its transfer or reduce its value.
Equal Housing Opportunity. A federal policy, enforced through fair housing law, requiring that housing and lending decisions be made without regard to race, color, religion, sex, national origin, disability, or familial status.
Equity. The difference between a home's current market value and the amount still owed on the mortgage.
Escrow. A neutral third party arrangement where funds or documents are held until specific conditions of a transaction are met.
Escrow Account. An account maintained by a loan servicer to collect and pay property taxes and insurance on behalf of the borrower.
Escrow Analysis. An annual review a servicer performs to confirm the escrow account is collecting the correct amount for taxes and insurance.
Escrow Shortage. A situation where the escrow account does not have enough funds to cover upcoming tax and insurance payments, usually resulting in a payment increase.
Escrow Surplus. Extra funds left in an escrow account after taxes and insurance are paid, typically refunded to the borrower or applied to lower the next year's payment.
Escrow Waiver. An option on some conventional loans that allows a borrower to pay property taxes and insurance directly instead of through a lender collected escrow account.
F
Fannie Mae. A government sponsored enterprise that purchases mortgages from lenders and packages them for sale on the secondary market, helping keep mortgage money available.
FHA Loan. A mortgage insured by the Federal Housing Administration, allowing a lower down payment and more flexible credit requirements than many conventional loans.
FHA Mortgage Insurance Premium (MIP). The mortgage insurance required specifically on FHA loans, charged both as an upfront premium at closing and as part of the monthly payment for most borrowers, regardless of down payment size.
FICO Score. A specific type of credit score developed by the Fair Isaac Corporation, widely used by mortgage lenders.
First Time Homebuyer. A buyer purchasing a primary residence for the first time, or someone who has not owned a home in the past three years, a status that can open eligibility for certain low down payment and assistance programs.
Fixed Rate Mortgage. A mortgage with an interest rate that never changes for the entire term of the loan.
Flood Certification. A determination showing whether a property sits within a federally designated flood zone, ordered by the lender during the loan process to decide if flood insurance is required.
Flood Insurance. A separate insurance policy covering damage from flooding, required by lenders when a property is located in a designated high risk flood zone.
Forbearance. A temporary arrangement allowing a borrower to pause or reduce mortgage payments during a period of financial hardship.
Foreclosure. The legal process a lender uses to take ownership of a property after a borrower fails to make payments as agreed.
Freddie Mac. A government sponsored enterprise, similar to Fannie Mae, that purchases and packages mortgages to keep funds flowing through the housing market.
Funding. The point in a transaction when the lender disburses loan proceeds, which can occur on the day of closing or shortly after depending on state and loan type.
G
Gift Funds. Money given to a borrower by a relative or approved donor to help cover a down payment or closing costs, which must be documented with a gift letter.
Gift Letter. A signed document confirming that down payment or closing cost funds given to a borrower by a relative are a gift, not a loan to be repaid.
Government Loan. A mortgage insured or guaranteed by a federal agency, such as an FHA, VA, or USDA loan, generally offering more flexible qualification requirements than conventional financing.
Grace Period. A set number of days after a payment due date during which a payment can still be made without a late fee.
Gross Income. A borrower's total income before taxes and other deductions, used by lenders as the starting point for calculating qualifying ratios.
H
Hazard Insurance. Insurance covering damage to a home from fire, wind, and other specified hazards, usually required as part of homeowners insurance.
HELOC (Home Equity Line of Credit). A revolving line of credit secured by home equity, allowing a homeowner to borrow, repay, and borrow again up to a set limit.
High Balance Loan. A conforming loan that exceeds the standard loan limit but stays within a higher limit allowed in certain higher cost counties.
Home Equity. The portion of a home's value that the owner actually owns outright, equal to the home's market value minus any outstanding mortgage balance.
Home Equity Loan. A loan secured by home equity that provides a lump sum with a fixed payment, separate from the homeowner's first mortgage.
Home Inspection. A professional evaluation of a home's condition, covering major systems and structural components, typically completed after an offer is accepted.
Homeowners Association (HOA). An organization that manages shared amenities and enforces community rules in certain neighborhoods or condominium developments, funded by member dues.
Homeowners Insurance. A policy that protects a home and its contents against damage, theft, and certain liability claims.
Homestead Exemption. A reduction in taxable property value offered by many states to a homeowner's primary residence, lowering the annual property tax bill.
Hybrid ARM. An adjustable rate mortgage that combines a fixed rate for an initial period, such as five or seven years, with adjustable rates for the remainder of the term.
I
Initial Escrow Payment. The upfront deposit collected at closing to start an escrow account with enough cushion to cover upcoming property tax and insurance bills.
Inspection Contingency. A condition in a purchase agreement giving the buyer the right to have the home inspected and to renegotiate or walk away based on the results.
Interest. The cost charged by a lender for borrowing money, calculated as a percentage of the loan balance.
Interest Only Loan. A loan in which the borrower pays only the interest for a set period before payments begin including principal.
Interest Rate. The percentage charged annually on the outstanding loan balance, representing the cost of borrowing.
Investment Property. A home purchased primarily to generate rental income or profit rather than to be used as the buyer's primary residence, subject to different loan pricing and requirements.
J
Jumbo Loan. A mortgage that exceeds the conforming loan limit, subject to different underwriting guidelines and often requiring a larger down payment.
L
Lender Credit. Money a lender provides toward a borrower's closing costs, usually in exchange for accepting a slightly higher interest rate.
Letter of Explanation. A written statement from a borrower explaining a specific item in their file, such as a credit inquiry or an unusual deposit.
Lien. A legal claim against a property, often used as security for a debt, that must typically be resolved before the property can be sold.
Loan Estimate. A standardized disclosure provided within three days of applying for a mortgage, outlining the estimated rate, payment, and closing costs.
Loan Officer. The individual who works directly with a borrower to gather information, structure a loan, and guide the file through the mortgage process.
Loan Origination Fee. Another name for the origination fee, the amount a lender charges to cover the cost of preparing and underwriting a new loan.
Loan Processor. The person, often simply called the processor, who gathers a borrower's documentation and prepares the file for underwriting.
Loan Servicer. The company responsible for collecting mortgage payments and managing a loan after closing, which may be different from the original lender.
Loan Term. The length of time over which a mortgage is scheduled to be paid off, most commonly fifteen or thirty years.
Loan to Value Ratio (LTV). The loan amount divided by the appraised value of the property, expressed as a percentage, used to assess risk and determine mortgage insurance requirements.
M
Manufactured Home. A factory built home constructed to federal building standards and transported to its final location, financed differently than a site built home.
Margin. A fixed percentage added to the index rate to determine the interest rate on an adjustable rate mortgage.
Market Value. The price a property is likely to sell for in the current market, influenced by recent comparable sales, location, and condition.
Maturity Date. The date on which a loan is scheduled to be fully paid off according to its original terms.
Maximum Loan Amount. The highest amount a lender will approve for a given borrower or loan program, based on income, credit, collateral, and program limits.
Minimum Down Payment. The smallest amount a borrower is allowed to put down under a specific loan program's guidelines, ranging from zero on some government loans to as much as twenty percent or more on certain conventional and jumbo loans.
Monthly Housing Payment. The total monthly cost of homeownership, typically made up of principal, interest, taxes, and insurance, and sometimes mortgage insurance or association dues.
Mortgage. A loan used to purchase real estate, secured by the property itself as collateral.
Mortgage Broker. A licensed professional who works with multiple wholesale lenders to shop and structure a loan on a borrower's behalf.
Mortgage Contingency. A condition in a purchase agreement allowing a buyer to cancel the contract and recover their earnest money if they are unable to secure financing by a set deadline.
Mortgage Insurance. Insurance that protects the lender in case a borrower defaults, typically required when the down payment is below a certain threshold.
Mortgage Insurance Premium (MIP). The mortgage insurance charged on FHA loans, paid both upfront and monthly for most borrowers.
Mortgage Note. The legal document in which a borrower promises to repay a loan under specific terms, separate from the deed of trust or mortgage itself.
Mortgage Points. Another name for discount points, an upfront fee paid at closing to lower a mortgage's interest rate.
Mortgage Servicer. Another name for the loan servicer, the company that collects payments and manages a mortgage after closing.
N
Negative Amortization. A situation where monthly payments are not large enough to cover the interest due, causing the loan balance to grow instead of shrink.
No Closing Cost Refinance. A refinance structured so the borrower pays no upfront closing costs, typically by rolling those costs into the loan balance or accepting a slightly higher interest rate.
Non Conforming Loan. A mortgage that does not meet the guidelines to be purchased by Fannie Mae or Freddie Mac, such as a jumbo loan.
Non QM Loan. A mortgage that falls outside standard qualified mortgage guidelines, often used for self employed borrowers or unique income situations.
O
Origination Fee. A fee charged by a lender to cover the cost of processing a new loan application.
Owner Occupied Property. A home classified by the borrower as their primary residence, a designation lenders use since owner occupied loans generally receive better pricing and terms than rental or second home financing.
P
Payment Shock. A significant increase in a borrower's housing payment compared to what they were previously paying, a factor lenders may weigh when evaluating a loan application.
Permanent Buydown. A buydown paid at closing that permanently lowers a loan's interest rate for the entire term, as opposed to a temporary buydown that expires after a set number of years.
PITI. An acronym for principal, interest, taxes, and insurance, representing the full components of a typical monthly mortgage payment.
Planned Unit Development (PUD). A type of community with shared common areas and amenities, governed by an association but typically without shared walls between units.
PMI (Private Mortgage Insurance). Mortgage insurance required on most conventional loans with less than twenty percent down, which can generally be removed once enough equity builds.
Portfolio Loan. A mortgage that a lender keeps on its own books rather than selling on the secondary market, often allowing more flexible guidelines.
Power of Attorney. A legal document authorizing one person to act on behalf of another, sometimes used to sign closing documents when a borrower cannot be present.
Pre Approval. A lender's confirmation, based on verified income, assets, and credit, of how much a borrower is qualified to borrow.
Pre Qualification. An informal, less verified estimate of what a borrower might qualify for, typically based on self reported information.
Prepaid Interest. Interest paid at closing to cover the period between the closing date and the first day of the following month.
Prepaid Items. Funds collected at closing in advance for expenses like property taxes and homeowners insurance, used to start the new escrow account.
Prepayment Penalty. A fee some loans charge if the borrower pays off the loan early, though this is uncommon on most modern mortgage programs.
Principal. The original amount borrowed on a loan, not including interest.
Principal Balance. The amount of a loan that remains unpaid at any given point, not including interest.
Principal Residence. The home a borrower lives in for the majority of the year, distinguished from a second home or investment property for loan qualification and tax purposes.
Processing Fee. A fee some lenders charge to cover the administrative cost of assembling and submitting a loan file for underwriting.
Processor. The person responsible for collecting and organizing a borrower's documentation and preparing the file for underwriting.
Property Tax. An annual tax assessed by local government based on a property's value, typically collected monthly through an escrow account as part of the mortgage payment.
Purchase Agreement. The legal contract between a buyer and seller outlining the terms of a real estate transaction.
Q
Qualifying Income. The portion of a borrower's income that a lender can actually count toward loan qualification, which may exclude income that is not stable, documented, or likely to continue.
Quitclaim Deed. A deed that transfers whatever ownership interest a person has in a property without any guarantee about the quality of that title.
R
Rate and Term Refinance. A refinance that changes a loan's interest rate, term, or both, without taking any additional cash out.
Rate Lock. An agreement between a lender and borrower to hold a specific interest rate for a set period while the loan is being processed.
Real Estate Agent. A licensed professional who represents buyers or sellers in a real estate transaction.
Realtor®. A real estate agent who is also a member of the National Association of Realtors and agrees to follow its code of ethics, a distinction not every licensed agent holds.
Recording Fees. Fees charged by local government to officially file a deed or mortgage in the public record after closing.
Refinance. Replacing an existing mortgage with a new one, often to secure a better rate, change the loan term, or access equity.
Remaining Balance. The amount still owed on a loan at any point in time, decreasing with each payment as principal is paid down.
Repayment Plan. An arrangement that allows a borrower who fell behind on payments to catch up gradually over time.
Retail Lender. A lender that only originates and prices its own loan products, meaning the borrower sees just one company's rates and programs instead of pricing shopped across multiple lenders the way a mortgage broker can provide.
Reverse Mortgage. A loan available to homeowners sixty two and older that converts home equity into cash without requiring monthly mortgage payments.
Right of Rescission. A legal right allowing a borrower to cancel certain types of loans, most commonly refinances, within three business days of closing.
S
Sales Contract. Another term for the purchase agreement outlining the terms of a real estate sale.
Seasoning. The length of time an asset, account, or piece of credit history has existed, often used as a qualification factor.
Second Mortgage. A loan secured by a home in addition to the primary mortgage, such as a home equity loan or HELOC, that sits in second position behind the first lien.
Seller Concession. An amount the seller agrees to contribute toward the buyer's closing costs as part of the purchase negotiation.
Seller Concessions. The combined costs a seller agrees to cover on the buyer's behalf, limited to a percentage of the sale price depending on loan type.
Servicing. The ongoing administration of a loan after closing, including collecting payments, managing escrow, and handling customer service, performed by a loan servicer.
Short Sale. A sale where the lender agrees to accept less than the full loan balance because the home is worth less than what is owed.
Single Family Residence. A standalone home designed to house one household, as opposed to a multi family or attached property.
Special Assessment. An additional charge levied by a homeowners association or local government to cover a specific, often unexpected, expense not covered by regular dues or taxes.
Starter Home. An entry level home, typically smaller or more affordably priced, that a first time buyer purchases with the expectation of moving up later as their needs or budget change.
Subordination Agreement. A legal agreement that adjusts the priority of liens on a property, commonly signed when refinancing a first mortgage while a second loan or home equity line stays in place.
Survey. A precise map of a property showing its boundaries, improvements, and any easements or encroachments.
T
Temporary Buydown. An arrangement, such as a two one buydown, that temporarily lowers a borrower's interest rate for the first year or two of a loan.
Title. The legal right of ownership to a piece of property.
Title Commitment. A document issued by a title company before closing, outlining the conditions that must be met to issue title insurance and listing any liens or claims that must be cleared.
Title Insurance. A policy that protects a buyer or lender against financial loss from defects in a property's title.
Title Search. A review of public records to confirm a property's ownership history and identify any liens or claims against it.
Truth in Lending Act (TILA). A federal law requiring lenders to disclose key loan terms and costs to borrowers in a clear, standardized way.
U
Underwriter. The person or system responsible for reviewing a loan file and making the final decision on whether to approve it.
Underwriting. The process of evaluating a borrower's income, assets, credit, and the property itself to determine loan eligibility.
Uniform Residential Loan Application. The standardized mortgage application form used across the industry, often referred to by its form number.
USDA Loan. A mortgage backed by the United States Department of Agriculture that allows qualified buyers to purchase homes with no down payment in eligible rural and suburban areas.
V
VA Funding Fee. A one time fee charged on most VA loans to help sustain the program, which can be financed into the loan and is waived for veterans with a service connected disability.
VA Loan. A mortgage backed by the Department of Veterans Affairs, available to eligible veterans, service members, and surviving spouses, typically requiring no down payment.
Variable Interest Rate. Another name for an adjustable interest rate, one that can change periodically based on a market index rather than staying fixed for the life of the loan.
Verification of Assets (VOA). A document a lender uses to confirm the funds in a borrower's bank or investment accounts directly with the financial institution.
Verification of Employment. A document a lender uses to confirm a borrower's job status, income, and length of employment directly with their employer.
Verification of Income (VOI). A document or electronic report a lender uses to confirm a borrower's income directly with an employer or payroll provider.
W
Warehouse Lending. A short term line of credit lenders use to fund loans before those loans are sold on the secondary market.
Wholesale Lender. A lender that works exclusively through mortgage brokers rather than directly with the public.
Wire Fraud. A scam in which criminals impersonate a title company, lender, or agent to trick a buyer into wiring closing funds to a fraudulent account, a risk that makes verifying wire instructions by phone essential before sending money.
Wire Transfer. An electronic transfer of funds between banks, commonly used to deliver closing funds on the day of settlement.
Wraparound Mortgage. A financing arrangement in which a new loan wraps around and includes the balance of an existing mortgage, with the seller often acting as the lender.
Y
Yield Spread Premium. A payment a lender makes to a broker or loan officer in exchange for placing a loan at a higher interest rate than the borrower otherwise qualified for, now heavily restricted by law.
Z
Zero Down Mortgage. A mortgage program, such as VA or eligible USDA financing, that allows a qualified buyer to purchase a home without a down payment.
If a lender or a listing ever hands you a term that is not on this list, or one you want explained specifically for your own situation, send it my way. I would rather explain it in one sentence now than have you find out what it means the hard way at closing.
Frequently asked questions
Most of these terms apply nationwide, since federal law and standard lending practice define the vast majority of mortgage vocabulary. A handful of terms, such as deed of trust versus mortgage, can vary slightly by state, and I can clarify how a specific term applies where you are buying.
Reach out and ask. This list covers the terms buyers and homeowners run into most often, but mortgage lending has more vocabulary than any single page can hold, and I am happy to define anything that is missing.
Yes. Since every term is listed alphabetically, you can use your browser's find function, usually triggered by pressing control and F on a computer or through the share menu on a phone, to jump straight to any word on this page.
Bookmark this page. Mortgage vocabulary does not get any less confusing between now and your next home purchase or refinance, so it is worth having one place to check.
This article is general education, not a commitment to lend or an offer of credit. Program availability, terms, rates, and qualification guidelines vary by lender and are subject to change; all loans are subject to underwriting and final approval. Market figures are approximate and change over time. For guidance specific to your situation, reach out directly. Garrett Potz, NMLS #631592 · Affinity Home Lending, Company NMLS #1181151 · Equal Housing Lender.