There are so many abbreviations and acronyms in the mortgage process. As mortgage professionals, we’re so used to hearing these terms that some of us may not realize that not everyone may be aware what a DTI, AUS or MBS means.
Here’s a list of common mortgage abbreviations you may find useful. I’m sure I’ll be updating this as I come along other often used abbreviations. 🤓
By the way, if your mortgage professional talks in a language that’s difficult to understand, ask them to explain or maybe, find a different mortgage professional. I strongly believe that you should be able to make informed decisions about what is probably your largest debt on your greatest asset (your home) and your mortgage professional should be assisting in providing clarity.
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