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Glossary

Glossary

Glossary

Glossary

As you’re going through the mortgage process, we know there’s a lot to keep track of. We’ve designed these educational videos to help guide you through the approval process, give you a sense of what you can expect, help answer questions, and assist with simplifying the loan process. If you still have questions, please feel free to reach out to a local Wintrust Mortgage originator, or call the number at the top right corner of the screen.

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ANNUAL PERCENTAGE RATE

What is an annual percentage rate and how is it calculated?

CONDITIONS TO CLOSE

What are considered conditions to close?

OWNER OCCUPIED PROPERTY

What does owner occupied property mean?

DOWN PAYMENTS

What are down payments?

VERIFICATION OF EMPLOYMENT

What is verification of employment and how is it done?

DEBT-TO-INCOME RATIO

What is debt-to-income ratio and how is it calculated?

LENDER COMMITMENT

What is lender commitment?

Check Out These Additional Videos

       

FAQs
LOAN TYPES
Getting a Loan