HELOC EXPERT GLOSSARY

Glossary: M

Browse terms beginning with M and move through the full A–Z home-equity and mortgage glossary.

Terms Starting with M

Each letter has its own permanent glossary page for easier browsing and linking.

A percentage added to an index to determine the interest rate on many variable-rate products.

The rent a property could reasonably command in its current market, based on comparable rental evidence.

The date on which the loan becomes due according to its terms.

The highest combined loan-to-value ratio a lender or program permits for a transaction.

The smallest advance amount a HELOC lender permits for an individual draw or initial advance.

A loan secured by real property, or in some jurisdictions the security instrument associated with that loan.

The amount of principal still owed on a mortgage, excluding or including other amounts depending on context.

A person or company that may arrange mortgage financing with lenders, subject to licensing and compensation rules.

Insurance-policy language identifying the lender's interest in the insured real property.

The lender or creditor holding a mortgage interest in real property.

The property owner or borrower granting a mortgage interest to secure debt.