Mortgages
Mortgage Discount Points
Upfront fees paid directly to the lender at closing in exchange for a permanently reduced mortgage interest rate.
📚 Financial Knowledge Base
Financial Industry Glossary & Underwriting Guide
Master essential home mortgage, auto financing, interest rate, and underwriting terminology with interactive calculators, mathematical formulas, and practical lending guidelines.
Terms Starting With "M"
Showing 4 definitionsCredit & Underwriting
Mortgage Underwriting
The detailed risk assessment process conducted by a lender to evaluate a borrower’s credit, capacity, and collateral before granting final loan approval.
Mortgages
Mortgage Recast (Re-Amortization)
A loan modification procedure where a homeowner makes a lump-sum principal payment and the lender re-amortizes the reduced balance over the remaining loan term to lower the monthly payment while keeping the existing interest rate.
Rates & Interest
Mortgage Constant (Loan Constant)
The total annual debt service (principal plus interest) of an amortizing loan expressed as a percentage of the original loan principal, used by investors to test for positive or negative leverage.