Mortgage Acronyms

There are a lot of acronyms associated with the mortgage industry. Here is a quick guide to help you make sense of them:

LTV: Loan To Value
DTI: Debt To Income
PITI: Principal, Interest, Tax, Insurance
PMI: Private Mortgage Insurance
ARM: Adjustable Rate Mortgage
REO: Real Estate Owned
DU: Desktop Underwriter
LP: Loan Prospector
HUD: Housing and Urban Development (department of)
HOA: Home Owners Association
SFR : Single Family Residence
PUD: Planned Urban Development
VOR: Verification Of Rent
VOM: Verification Of Mortgage
VOE: Verification of Employment
GFE: Good Faith Estimate

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