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Glossary Term

Tax Deductibility

Whether loan interest or other costs may be deductible under tax law; borrowers should obtain current tax advice rather than assume deductibility.

Glossary Term

Borrower-Paid Compensation

Compensation paid directly by a borrower for mortgage origination services where permitted and properly disclosed.

Glossary Term

Total Interest

The cumulative interest paid over a specified period or over the full life of a loan under stated assumptions.

Education Article

HELOC vs. Home Equity Loan for a Known Expense

A known one-time expense can make the choice between revolving credit and a lump-sum second mortgage easier to frame.

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Calculators

Glossary Term

Variable Rate

An interest rate that can change after closing according to the loan terms.

Glossary Term

Lien Position

The priority order in which liens are generally paid or enforced against a property.

Education Article

Home Equity Loan vs. VA Cash-Out Refinance

Veteran homeowners with a defined cash need often face a structural choice: add a second mortgage or replace the first mortgage through…

Glossary Term

Refinance Seasoning

A required period that may need to pass before a loan or property becomes eligible for certain refinance programs.

Glossary Term

Amortization Schedule

A table showing how each scheduled payment is allocated between principal and interest over time.