Don't worry if you are not familiar with some of the mortgage and financing terms that you hear or read. Here, you will find definitions and explanations about the most important ones. If you still have questions, send an email to your Personal Mortgage Finder and ask.

• What is a Fixed Rate Mortgage?
• What are Adjustable Rate Mortgages? (ARM)
• What are Balloon Mortgages?
• What Is Interest?
• What Is "Principal"?
• What is PITI?
• What are Points?
• What is Equity?
• What is an "Appraisal"?
• What is Title Insurance?
• What is "Escrow"?
• What are the options for locking in my mortgage rate?
• What is the difference between Rate and APR?
• What is Private Mortgage Insurance?
• What fees must I pay at the closing?
• When does it pay to refinance?