Glossary of Mortgage Terms
Explore commonly used mortgage terms that are frequently used by AmeriSave Mortgage.A joint mortgage is a home loan shared by two or more borrowers who apply together, combine their income and credit profiles, and share equal responsibility for repaying the debt.
Joint tenancy is a way for two or more people to own property together and share it equally. It also gives each owner the right of survivorship, which means that when one owner dies, the others automatically get that share.
A jumbo loan is a mortgage with a higher loan amount than the Federal Housing Finance Agency's annual limits on conforming loans. Because of this, Fannie Mae and Freddie Mac cannot buy or guarantee it.
A jumbo loan refinance replaces an existing mortgage that is higher than the limits for conforming loans with a new loan. This lets homeowners of high-value properties get a lower rate, a different term, or access their home equity.
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...
