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| Each letter will take you to a list of financial terms and their meaning. |
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Truth in Lending Act
Federal law which requires a disclosure of credit terms using a standard format. Intended to make easier comparisons between the lending terms of financial institutions |
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Total Debt Ratio (Back-End Ratio)
Monthly debt and housing payments divided by gross monthly income. |
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Title Search
Examination of city, town, or county records to establish the legal ownership of real estate. |
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Title Insurance
A policy which insures a homebuyer against errors in the title search (also available to protect the lender's interests). The cost of the title insurance is typically a function of the property value, and is often borne by the purchaser and/or seller, being issued by a title insurance company. |
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Title
The document by which evidence of an individual's property ownership is given.
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