Understanding the terminology

Glossary of terms

Whether you’re buying a home or simply refinancing, here is a glossary of terms to help you understand every step of the process. Below is a variety of terms used by loan officers and real estate professionals that you can refer to for quick reference throughout your mortgage application process.

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Complete definitions

Terms & terminology

The financial world has it’s own language that can seem daunting to those not familiar with it, so Mid Island Mortgage has put together a complete lexicon of terms and terminology to help you.

For complete definitions, mouse over the terms below.

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