Mortgage Glossary
EXCITING TIMEGoPrime Mortgage, Inc. | Company NMLS ID 69551
p: 828-348-1907
862 Haywood Rd, Asheville, NC 28806
WAVL
- 2
- 2/1 Buy Down Mortgage
- a
- Abstract of Title
- Acceleration Clause
- Accrued Interest
- Additional Principal Payment
- Adjustable-Rate Mortgage
- Adjusted Basis
- Adjustment Date
- Adjustment Period
- Affordability Analysis
- Amortization
- Amortization Term
- Annual Percentage Rate (APR)
- Appraisal
- Appraised Value
- ARM
- Asset
- Assignment
- Assumability
- Assumable Mortgage
- Assumption Fee
- b
- Back-End Ratio
- Balance Sheet
- Balloon Mortgage
- Balloon Payment
- Before-tax Income
- Biweekly Payment Mortgage
- Bridge Loan
- Broker
- Buydown
- c
- Cap
- Certificate of Eligibility
- Certificate of Reasonable Value (CRV)
- Change Frequency
- Change Orders
- Closing
- Closing Costs
- Closing Disclosure (CD)
- Commitment Letter
- Compound Interest
- Construction Loan Disbursement Request/Authorization
- Consumer Reporting Agency (or Bureau)
- Consummation
- Contingency Funds
- Conventional Mortgage
- Conversion Clause
- Convertible ARM
- Credit Report
- Credit Risk Score
- d
- Date of Possession
- Debt Ratio
- Deed
- Deed of Trust
- Default
- Default
- Delinquency
- Delinquency
- Deposit
- Deposits
- Discount
- Discount Points
- Down Payment
- e
- Earnest Money
- Easement
- Effective Gross Income
- Equity
- Escrow
- Escrow Disbursements
- Escrow Payment
- f
- Fair Market Value
- Fees (Unused)
- Final Draw
- Fixed Installment
- Fixed-Rate Mortgage
- Foreclosure
- Funding Notification
- g
- Good Faith Estimate (GFE)
- Graduated Payment Mortgage
- Guarantee Mortgage
- h
- Home Inspection
- Home Price Index
- Homeowners Insurance
- Hybrid ARM
- i
- Installment
- Interest Rate Ceiling
- Interest Rate Floor
- l
- Lending Estimate (LE)
- Liabilities
- Lifetime Payments Cap
- Lifetime Rate Cap
- Line Item
- Loan Acceleration
- Lock-In Period
- m
- Maturity
- Mortgage Insurance
- Mortgage Points
- n
- Net Worth
- Notice of Incomplete Application
- o
- Offer
- Origination Fee
- p
- Permits
- PITI
- Pre-approval
- Prepayment Penalty
- Principal
- Principal Balance
- Private Mortgage Insurance (PMI)
- Processing Fees
- Property Address
- r
- Real Estate Settlement Procedure Act (RESPA)
- Refinancing
- Right of First Refusal
- s
- Sales Contract
- Second Mortgage
- Site Inspection
- Standard Draw Requirements Letter
- Survey
- t
- Terms
- TILA-RESPA Integrated Disclosure (TRID) Rule
- Title
- Title Search
- Truth in Lending
- u
- Underwriting
- w
- Walk-Through
We want to be more than your mortgage lender.
Like Branch Manager Zachery Adam, the company wants to become the go-to destination for people who have questions about real estate financing and the mortgage application process. Applying for a mortgage can be a frightening process at a bank. GoPrime Mortgage, Inc. aims to keep the process simple.
Explore Your Options
As a first-time homebuyer, you may believe that you have to get your loan through a bank or credit union. But that’s not the case. An independent mortgage lender often provides more options than a bank can. Shop around. See who gives you the best deal on a mortgage loan that’s right for your circumstances. You may be surprised.
Get Pre-Qualified
Getting pre-qualified for a mortgage loan is the best first step to take when you want to buy your first home.
Mortgage Calculator
To get a quick, down-and-dirty — and completely unofficial and nonbinding — idea of what your monthly mortgage payment would be based on the cost of a house.
16 Mortgage Tips
Get good, professional advice for what to do and what not to do when you’re seeking to buy your first home.
Mortgage Document Checklist
When applying for a mortgage loan, you may need reams of financial records. Or not. It’s different for everyone. Here is a complete list to give you an idea.
Frequently Asked Questions about Mortgages
Everyone has questions when it comes to buying a house and applying for a mortgage loan. This page answers the most common questions people have.
Homebuyer’s Guide
Law requires that you be provided with this monstrous document when you apply for a loan. Here is a helpful summary of its contents.
Mortgage Glossary
As you explore down the rabbit hole of mortgage loans, you inevitably will find terms and acronyms that you don’t understand. Look here for help.
Mortgage Loan Products
While some lenders push specific mortgage loan products because it’s best for them, GoPrime Mortgage, Inc. takes the time to find the mortgage that’s best for you.
GoPrime Mortgage, Inc. offers a wide range of mortgage loan types. To understand the differences, read this page and then talk to Zachery Adam and his Team.
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Zachery Adam
Branch Manager, Loan Officer
"What we do is so far more important than lending and buying houses. We are in the business of facilitating dreams and honoring the start of a new home.”
Jordynn Webb
Loan Officer Assistant
"My eventual goal is to become a loan officer. I love working within the community and being a part of the GoPrime Mortgage team.”