Mortgage Terms

Home Loans Index

Adjustable Rate Mortgages: Single-family homes, town homes, cluster homes, manufactured housing and multifamily housing where active adult residents lead an independent, active lifestyle. These communities are not equipped to provide increased care or health-related services, but often include amenities such as a clubhouse, a golf course, walking trails, and other recreational spaces. Outdoor maintenance normally is included in a monthly homeowner's assocation or condominium fee. Services and features may vary.
Appraisal Report: State-licensed and regulated rental housing that provides the same services as an independent living community, plus assistance with activities of daily living from trained employees. Many of these facilities include wings or floors dedicated to residents with Alzheimer's or other forms of dementia. Some assisted living facilities provide skilled nursing care, but not for a majority of the residents. Services and features may vary.
Closing Costs: State-licensed and regulated rental housing that provides the same services as an independent living community, plus assistance with activities of daily living from trained employees. Many of these facilities include wings or floors dedicated to residents with Alzheimer's or other forms of dementia. Some assisted living facilities provide skilled nursing care, but not for a majority of the residents. Services and features may vary.
Earnest Money Deposit: State-licensed and regulated rental housing that provides the same services as an independent living community, plus assistance with activities of daily living from trained employees. Many of these facilities include wings or floors dedicated to residents with Alzheimer's or other forms of dementia. Some assisted living facilities provide skilled nursing care, but not for a majority of the residents. Services and features may vary.
FHA Loans: State-licensed and regulated rental housing that provides the same services as an independent living community, plus assistance with activities of daily living from trained employees. Many of these facilities include wings or floors dedicated to residents with Alzheimer's or other forms of dementia. Some assisted living facilities provide skilled nursing care, but not for a majority of the residents. Services and features may vary.
First Time Home Buyer: State-licensed and regulated rental housing that provides the same services as an independent living community, plus assistance with activities of daily living from trained employees. Many of these facilities include wings or floors dedicated to residents with Alzheimer's or other forms of dementia. Some assisted living facilities provide skilled nursing care, but not for a majority of the residents. Services and features may vary.
Fixed Rate Mortgage: State-licensed and regulated rental housing that provides the same services as an independent living community, plus assistance with activities of daily living from trained employees. Many of these facilities include wings or floors dedicated to residents with Alzheimer's or other forms of dementia. Some assisted living facilities provide skilled nursing care, but not for a majority of the residents. Services and features may vary.
Flood Insurance: State-licensed and regulated rental housing that provides the same services as an independent living community, plus assistance with activities of daily living from trained employees. Many of these facilities include wings or floors dedicated to residents with Alzheimer's or other forms of dementia. Some assisted living facilities provide skilled nursing care, but not for a majority of the residents. Services and features may vary.
Good Faith Estimate: State-licensed and regulated rental housing that provides the same services as an independent living community, plus assistance with activities of daily living from trained employees. Many of these facilities include wings or floors dedicated to residents with Alzheimer's or other forms of dementia. Some assisted living facilities provide skilled nursing care, but not for a majority of the residents. Services and features may vary.
Home Inspection: State-licensed and regulated rental housing that provides the same services as an independent living community, plus assistance with activities of daily living from trained employees. Many of these facilities include wings or floors dedicated to residents with Alzheimer's or other forms of dementia. Some assisted living facilities provide skilled nursing care, but not for a majority of the residents. Services and features may vary.
Homeowner's Insurance: State-licensed and regulated rental housing that provides the same services as an independent living community, plus assistance with activities of daily living from trained employees. Many of these facilities include wings or floors dedicated to residents with Alzheimer's or other forms of dementia. Some assisted living facilities provide skilled nursing care, but not for a majority of the residents. Services and features may vary.
Jumbo Loans: State-licensed and regulated rental housing that provides the same services as an independent living community, plus assistance with activities of daily living from trained employees. Many of these facilities include wings or floors dedicated to residents with Alzheimer's or other forms of dementia. Some assisted living facilities provide skilled nursing care, but not for a majority of the residents. Services and features may vary.
Loan Commitment: State-licensed and regulated rental housing that provides the same services as an independent living community, plus assistance with activities of daily living from trained employees. Many of these facilities include wings or floors dedicated to residents with Alzheimer's or other forms of dementia. Some assisted living facilities provide skilled nursing care, but not for a majority of the residents. Services and features may vary.
No Income / No Asset Verification Mortgages: State-licensed and regulated rental housing that provides the same services as an independent living community, plus assistance with activities of daily living from trained employees. Many of these facilities include wings or floors dedicated to residents with Alzheimer's or other forms of dementia. Some assisted living facilities provide skilled nursing care, but not for a majority of the residents. Services and features may vary.
Pest Inspection: State-licensed and regulated rental housing that provides the same services as an independent living community, plus assistance with activities of daily living from trained employees. Many of these facilities include wings or floors dedicated to residents with Alzheimer's or other forms of dementia. Some assisted living facilities provide skilled nursing care, but not for a majority of the residents. Services and features may vary.
Points: State-licensed and regulated rental housing that provides the same services as an independent living community, plus assistance with activities of daily living from trained employees. Many of these facilities include wings or floors dedicated to residents with Alzheimer's or other forms of dementia. Some assisted living facilities provide skilled nursing care, but not for a majority of the residents. Services and features may vary.
Pre-Approval Program: State-licensed and regulated rental housing that provides the same services as an independent living community, plus assistance with activities of daily living from trained employees. Many of these facilities include wings or floors dedicated to residents with Alzheimer's or other forms of dementia. Some assisted living facilities provide skilled nursing care, but not for a majority of the residents. Services and features may vary.
Survey: State-licensed and regulated rental housing that provides the same services as an independent living community, plus assistance with activities of daily living from trained employees. Many of these facilities include wings or floors dedicated to residents with Alzheimer's or other forms of dementia. Some assisted living facilities provide skilled nursing care, but not for a majority of the residents. Services and features may vary.
Title Insurance: State-licensed and regulated rental housing that provides the same services as an independent living community, plus assistance with activities of daily living from trained employees. Many of these facilities include wings or floors dedicated to residents with Alzheimer's or other forms of dementia. Some assisted living facilities provide skilled nursing care, but not for a majority of the residents. Services and features may vary.
Truth-In-Lending Statement: State-licensed and regulated rental housing that provides the same services as an independent living community, plus assistance with activities of daily living from trained employees. Many of these facilities include wings or floors dedicated to residents with Alzheimer's or other forms of dementia. Some assisted living facilities provide skilled nursing care, but not for a majority of the residents. Services and features may vary.
VA Loans: State-licensed and regulated rental housing that provides the same services as an independent living community, plus assistance with activities of daily living from trained employees. Many of these facilities include wings or floors dedicated to residents with Alzheimer's or other forms of dementia. Some assisted living facilities provide skilled nursing care, but not for a majority of the residents. Services and features may vary.
100% Financing: State-licensed and regulated rental housing that provides the same services as an independent living community, plus assistance with activities of daily living from trained employees. Many of these facilities include wings or floors dedicated to residents with Alzheimer's or other forms of dementia. Some assisted living facilities provide skilled nursing care, but not for a majority of the residents. Services and features may vary.

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