The home mortgage process is more complicated than it used to be. Well-qualified people often find themselves delayed or even unable to close due to lender-mandated, last-minute changes and requests. Nothing is worse than finding the perfect home, and then having circumstances out of your control prevent you from realizing that dream.
And in many cases, understanding home mortgage information can be as complicated as deciphering a map for buried treasure!
You may already know common mortgage industry abbreviations, like APR (annual percentage rate) and DTI (debt-to-income ratio). But the well of mortgage abbreviations runs deep! You’re guaranteed to come across some of the abbreviations below during your mortgage process, while others may only surface depending on your specific financing needs.
How many of these mortgage industry abbreviations do you know? Click the card to see the answer.
Do you know this abbreviation?
How about this one?
This is a tough one!
Make sure you have a firm grasp on this one
Not a trip to the movies
Designed to gain your trust
As clear as...
Have you seen this one in comic book fight scenes?
I pity the fool who doesn’t know this one!
Hopefully you won’t need to learn this one anytime soon...
Don’t Let Complicated Abbreviations Ruin Your Mortgage Search!
At Beverly-Hanks Mortgage Services, we understand how complicated a home mortgage process can be—and on top of your complicated home purchase, at that!
As your local lender, we’ll beat the big banks by taking the time to explain all the details, including what every opaque abbreviation means. We’ll work directly with your real estate agent to ensure an efficient loan process. And we’ll be personally available to ensure you’re able to make confident real estate decisions.
Make a mortgage inquiry today!
For more information on our many financing services, call one of our professional mortgage loan officers today: (866) 858-2257.