Finance and Taxation Glossary

• Insurance 11
• Mortgages 207
• Property Taxes & Fees 33

276 terms

A

• Accelerated amortization
• Accommodation party
• Accrued interest
• Acquisition loan
• Act of God
• Add-on interest
• Adjustable-Rate Mortgage (ARM)
• Ad valorem tax
• After-acquired property clause
• Alphanumeric
• Alternative Mortgage
• Amortization period
• Annual Mortgagor Statement
• Annual Percentage Rate (APR)
• APR
• Assumption Clause
• Authorised financial institution
• A receiver

B

• Bad faith in real estate mortgages
• Balloon Mortgage
• Balloon payment
• Banker's guarantee
• Bank statements
• Borrower
• Business loans

C

• Capital gains
• Cash-out refinance
• Chattel mortgage
• Classified Property Tax
• Co-insurance
• Co-maker
• Co-signer
• Collateral
• Collateral in real estate
• Collateral risks
• Collector of Taxes
• Commercial bank
• Commitment
• Commitment fee
• Compound interest
• Conditional Commitment
• Construction Loan
• Credit history
• Credit Information Report
• Credit report
• Credit Score
• Creditworthy
• Customs Duty on Building Materials

D

• Damage & Destruction
• Dead lef
• Dead pledge
• Debt-to-income ratio
• Debt Collection Agency
• Debt Coverage Ratio (DCR)
• Debt service
• Debt Service Ratio
• Deed of Trust
• Defaulting on a mortgage loan
• Default in real estate
• Delinquency
• Deposit Insurance in Jamaica (JDIC)
• Diaspora Mortgage
• Down payment
• Drum beat reporting
• Due-On-Sale Clause
• Duty to insure

E

• Earthquake insurance
• Economic Stability
• Employer-assisted Housing
• End loan
• Endorser
• Equity of redemption
• Escrow
• Estate Duty
• Estimated Tax Savings

F

• Financial freedom
• Financial readiness
• Financial Services Commission (FSC)
• Financial status
• Fire Risk Assessment
• Firm commitment
• First mortgage
• Fixed-rate mortgage
• Fixed installment
• Fixed interest rate
• Flood insurance
• Forbearance
• Foreclosure
• Foreign Currency Loan Risk

G

• GCT
• GCT on Property
• Good-Faith Estimate
• Good faith in real estate mortgages
• Google Mortgage
• Grace period
• Guarantee mortgage

H

• Home Equity Line of Credit (HELOC)
• Home Equity Loan
• Home warranty
• Housing Benefit Entitlement
• Hybrid Mortgage

I

• Income proof
• Income Tax
• Initial interest rate
• Interest-only loan
• Interest-Only Mortgage
• Interest rate
• Interest rate caps

J

• Joint Mortgage

L

• Land Tax
• Late Payment
• Lender
• Letter of Commitment
• Liability Insurance
• Life cap
• Loan-To-Value Ratio (LTV)
• Loan agreement
• Loan agreement rate
• Loan Application
• Loan Application Fee
• Loan approval
• Loan Commitment
• Loan Constant
• Loan Estimate (LE)
• Loan Origination Fee
• Loan Processing Fee
• Loan qualification
• Loan Servicer
• Loan Term
• Lock-In
• Low-documentation loan
• Low-down-payment loan

M

• Maximum financing
• Memorandum of Sale
• Merged credit report
• Mortgage-interest deduction
• Mortgage Acceleration Clause
• Mortgage account
• Mortgage Act
• Mortgage agreement
• Mortgage application
• Mortgage banker
• Mortgage broker
• Mortgage broker offers
• Mortgagee
• Mortgage interest
• Mortgage life insurance
• Mortgage loans
• Mortgage pre-approval
• Mortgage process
• Mortgages
• Mortgage term
• Mortgage terms
• Mortgagor
• Multifamily mortgage
• Mutual funds

N

• NHT benefit
• NHT Closing Cost Assistance
• NHT Construction Loan
• NHT Contribution
• NHT Contributor Statement
• NHT Disaster Relief Loan
• NHT Employer Registration
• NHT Home Improvement Loan
• NHT Housing Scheme
• NHT Income Band
• NHT Interest Subsidy
• NHT Joint Mortgage
• NHT Loan Eligibility
• NHT Mortgage
• NHT Mortgage Insurance
• NHT Number
• NHT Overseas Contributor
• NHT Points System
• NHT Pre-qualification
• NHT Refund
• NHT Scheme Unit
• NHT Self-Employed Contributor
• NHT Starter Scheme
• Notice of Default
• NSHP

O

• Objection to a Tax Assessment
• Office of the Supervisor of Insolvency
• Owner financing

P

• Payment cap
• Payment schedule
• Payment schedules
• Per-Diem Interest
• Personal loans
• Portfolio Lender
• Pre-Approval Letter
• Pre-Qualification
• Pre-Qualification Letter
• Prequalification
• Prime-Linked Variable Rate
• Prime Lending Rate
• Private Mortgage Insurance (PMI)
• Probate Taxes
• Proof of Employment
• Proof of Income
• Property being underwater
• Property tax
• Property Tax Arrears
• Property tax assessment
• Property Tax Certificate
• Property Tax Compliance Certificate
• Property Tax Deduction
• Property Tax Number
• Property tax query
• Property Tax Relief for Pensioners

Q

• Qualifying Ratios
• Quifax

R

• Rate-improvement Mortgage
• Rate lock
• Receiver appointed for property
• Reconveyance
• Recording Fee
• Redlining
• Refinance
• Registration Fee for Titles
• Registration fees and taxes
• Rehabilitation Mortgage
• Remaining Term
• Repayment Plan
• Repayment terms
• Repossession
• Restructured loan
• Reverse Mortgage
• Revolving debt
• Right of Redemption
• Rights of the mortgagee
• Right to accelerate debt
• Right to appoint a receiver
• Right to cure the default
• Rural Housing Service

S

• Sealed bid
• Secondary Mortgage Market
• Section 1031 Exchanges
• Secured loan
• Secured loans
• Security
• Seller take-back
• Shared-appreciation Mortgage
• Sold Subject to Contract (STC)
• Stamp Commissioner’s Certificate
• Stamp Duty
• Stamp Duty on Mortgages
• Stamp Office
• Standard payment calculation
• Statutory Deductions
• Statutory Relief
• Step-rate mortgage

T

• Taxable Deduction
• Tax benefits
• Tax lien
• Taxpayer Registration Number
• Tax shelter
• Teaser rate
• The National Housing Trust (NHT) Home Starter Program
• The right to a deficiency judgment
• Title insurance
• Transfer Tax
• Transfer Tax Exemptions
• Transfer Tax on Death
• TRN
• Truth-In-Lending Act
• Two-step mortgage

U

• Underwriting
• Unsecured loan
• US-Dollar Mortgage

V

• Variable interest rate
• Variable Rate Mortgage
• Verification of deposit
• Verification of Employment

W

• Withholding Tax on Rent
• Wraparound Mortgage