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TERMS AND GLOSSARY

• PITI:      
  Principal, Interest, Tax, Insurance
  

• LTV: 
  Loan to Value
  

• APR:
  Annual Percentage Rate
  

• NIV:               
  No Income verification
  

• GFE/TIL:
  Good Faith Estimate/Truth in lending Disclosures 
  

• PMI                      
  Private Mortgage Insurance
  

• MIP:                      
  Mortgage Insurance Premium
  

• FHA:                      
  Federal Housing Authority 
  

• POINTS/: ORIGINATION
  DISCOUNT FEE
  1% of the loan amount
  

• DEBT RATIO:     
  Liabilities divided by gross monthly income
  
• JUMBO LOAN:  
   LOAN AMOUNT >275,000

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