10 Mortgage Abbreviations You Need To Know » Mortgage Masters Group

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A mortgage, much like a dog, marriage, or neck tattoo, is a major commitment, and not one that should be taken lightly. While a mortgage may save you money on a month-to-month basis compared to renting, there’s a significant initial investment, from the down payment to legal fees to closing costs.

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Mortgagee Clause Definition A property insurance provision granting special protection for the interest of a mortgagee (e.g., financial institution that has an interest in the property) named in the policy, in effect setting up a separate contract between the insurer and the mortgagee.

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LIST OF ABBREVIATIONS Below is the list of standard abbreviations for your reference purpose as some of them may have been used in your closing documents as well. MORTGAGE SPECIFIC TERMS ABBREVIATION TERMS ABBREVIATION ALSO KNOWN AS AKA ITS SUCCESSORS AND/OR ASSIGNS ISAOA ASSESSOR’S parcel number apn LOAN TO VALUE/LOAN TO VALUE RATIO LTV

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