TheLendingDesk
Articles▾StatesCalculators▾Glossary

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Reference

Glossary

65 terms. Loan-officer-level definitions of business-purpose investor lending vocabulary.

Closing Stage

  • Clear to Close (CTC)
  • Closing Disclosure (CD)
  • Dry Funding
  • Escrow
  • Final Walkthrough
  • Funding Letter
  • Recordation
  • Settlement Statement (HUD-1 / ALTA)
  • Table Funding
  • Wet Funding
  • Wire Confirmation

Construction & Rehab

  • Certificate of Occupancy (CO)
  • Change Order
  • Draw
  • Draw Inspection
  • GC (General Contractor)
  • Permit Pull
  • SOW (Scope of Work)

Costs & Fees

  • Discount Points
  • Exit Fee
  • Origination Fee
  • Prepayment Penalty
  • Servicing Fee

Investment Strategy

  • BRRRR (Buy, Rehab, Rent, Refinance, Repeat)

Loan Programs

  • Blanket Loan
  • Bridge Loan
  • Fix and Flip Loan
  • Foreign National Loan
  • Hard Money Loan
  • Interest-Only (IO) Loan
  • New Construction Loan (Ground-Up)
  • Non-QM Loan
  • Non-Recourse Loan
  • Portfolio Loan
  • Private Money Loan
  • Recourse Loan

Property Valuation

  • Appraisal
  • Appraisal Contingency
  • ARV (After Repair Value)
  • AVM (Automated Valuation Model)
  • BPO (Broker Price Opinion)
  • Comparable Sale (Comp)
  • GLA (Gross Living Area)
  • ROV (Reconsideration of Value)
  • Subject-to-Completion Appraisal

Title & Legal

  • Title Commitment
  • Title Cure (Curative)

Underwriting

  • Asset Depletion
  • Bank Statement Loan
  • Cash-Out Refinance
  • Compensating Factors
  • Decisioning
  • DSCR (Debt Service Coverage Ratio)
  • DTI (Debt-to-Income Ratio)
  • Exception
  • Loan Officer
  • LTARV (Loan-to-After-Repair-Value)
  • LTC (Loan-to-Cost)
  • LTV (Loan-to-Value)
  • PITIA
  • Reserves (PITI / PITIA)
  • Seasoning
  • Underwriter
  • Underwriting
  • Vintage