The base loan amount plus any financed closing costs. …
Total Monthly Housing Costs
The sum of principal, interest, property taxes, and if applicable, private mortgage insurance (PMI) and either hazard insurance or homeowners' association dues. …
Total of All Payments
The total cost of the loan, including repayment of the principal amount and the sum of monthly interest payments. …
Total Paid at Closing
All closing costs, prepaid fees, and the down payment. The lender may require you to demonstrate extra cash reserves equal to two months' worth of housing expenses as well. …
Townhouse
An attached home that is not a condominium. …
Tract Home
Another term for a production home, a mass-produced house constructed by one builder in a project. …