Term – The length of time a lender will loan money to a borrower. Typically, the borrower will repay the lender all monies borrowed and interest within the term (ex. 30 yr term or 15 yr term)

Title Company - Company that specializes in insuring titles to properties

Title Insurance - Insurance which protects the lender (Lenders Policy) or the buyer (Owners Policy) against loss from disputes of ownership.

Title Search - A search of the title records to ensure the seller is the legal owner of the said property. Also ensures that there are no liens or claims against the property.

Transfer Tax - Taxes that may be payable when the title passes from one owner to the next.

Truth in Lending Act - Federal law that requiring lenders to fully disclose, in writing, the terms and conditions of a mortgage to the borrower, including the APR and other charges.