Glossary of Mortgage Terms
Explore commonly used mortgage terms that are frequently used by AmeriSave Mortgage.With an installment loan, you get a large sum of money upfront and then pay it back in fixed, scheduled payments over a certain amount of time.
An interest rate floor is the lowest rate a variable-rate loan can ever reach. It is a contractually set minimum that keeps the borrower's rate from going below a certain level, no matter how low market rates go.
An interest-only mortgage is a home loan that lets you pay only the interest charges for a set number of years before your payment rises to include principal repayment.
An investment property is a piece of real estate that someone buys to make money from rent payments, price increases, or both, instead of living in it themselves.
Recent Articles
Does Debt Consolidation Affect Buying a Home? What Lenders See in 2026
Timing Is What Actually Decides This If you're calling to ask whether debt consolidation will hurt your chances of buying a home, the answer hinges on timing:...
DTI Requirements for Refinancing in 2026: What Ratio Lenders Actually Want
The DTI Ceiling Depends on the Door You Walk Through Every borrower situation is different, and that's especially true once you get past the general advice...
