Homeowner's Dictionary

Navigating home finances, property taxes, insurance, and energy costs should be easy. Our homeowner dictionary explains key terms in simple, clear language.

A

Adjustable Rate

Affordability Index

Adjustable-Rate Mortgage (ARM)

B

Balloon Mortgage

Balloon Payment

C

Cash-Out Refinance

Certificate of Occupancy

D

Debt-to-Income Ratio (DTI)

Debt Avalanche Method

Debt Snowball Method

Debt-to-Income Ratio

E

F

Flood Insurance

Fixed-Rate Energy Plan

G

Grid-Tied System

H

Housing Expense

Home Inspection

I

Indexed Rate Plan

Independent System Operator (ISO)

Interconnection Agreement

J

K

Kilowatt-Hour (kWh)

Kilowatt Demand

Kilowatt Capacity

Key Taxable Value

L

Local Property Tax Rates

M

Mechanic's Lien

Mortgage Insurance Premium

N

Net Energy Usage

Notice of Appraised Value

O

Origination Fee

Optional Coverage

Over-Assessed Property

P

Prepayment Penalty

Q

Qualified Energy Property

Qualified Allocation Plan (QAP)

R

Reverse Mortgage

Retail Electric Provider (REP)

S

Second Mortgage

Seller Concessions

Subprime Mortgage

T

Tax Assessor’s Office

Tax Certificate

Tenancy in Common

U

Underwater Mortgage

Uniform Residential Loan Application

Utilities Budget

V

Variable Expenses

Variable Rate Mortgage

Variable-Rate Plans

W

Wraparound Mortgage

X

X-ray Solar Flare Impact

Y

Yield Curve in Energy Markets

Yearly Energy Efficiency Audit

Yield Energy Credits

Z

Zero-Based Budgeting

Zero-Based Property Tax Assessment

Contract Renewal

Conservation Request

Competitive Energy Market

Condominium Ownership

Condensate Drain and Trap

Compound Interest

Composition Roofs

Composite Decking

Compact Fluorescent Lighting (CFL)

Community Property

Cluster Development

Closing Statement

Client Trust Account

Clamping Voltage

Certified Property Manager (CPM)

Certified Check

Certificate of Reasonable Value (CRV)

Casement Window

Carbon Footprint

Capital Improvement

Bundle of Rights

Building Residual Technique

Building Permit

Budget Mortgage

BTU (British Thermal Unit)

Breach of Contract

Board-and-Batten Siding

Blanket Mortgage

Base Line and Meridian

Bargain and Sale Deed

Bend and Extend

Average Billing

Attorney-in-Fact

Assessed Valuation

Annual Fuel Utilization Efficiency (AFUE)

Americans with Disabilities Act (ADA)

Allodial System

Alienation Clause

Agreement of Sale

Adverse Possession

Adhesion Contract

Acknowledgement

Acceleration Clause

Abstract of Title

ERCOT (Electric Reliability Council of Texas)

Energy Deregulation

Electricity Facts Label (EFL)

Notice of Appraised Value

Zero-Based Property Tax Assessment