Glossary of Key Home Loan Mortgage Terms - Cape Gazette : If you’re buying your first home (or even your first home in awhile), an intro to mortgage terminology could greatly improve your homebuying experience. To help you be a confident homebuyer, bring clarity to commonly used mortgage terms, and to... If you’re buying your first home (or even your first home in awhile), an intro to mortgage terminology could greatly improve your homebuying experience. To help you be a confident homebuyer, bring clarity to commonly used mortgage terms, and to better help you understand the mortgage process, we’ve compiled a list of some of the most basic phrases used when buying a home. Annual Percentage Rate (APR) – An APR is a broader measure of the costs associated with borrowing money. The APR reflects the interest rate, discount points, and any other charges you pay to get a loan. As a result, your APR is usually higher than the interest rate. APR is expressed as a percentage. Appraisal...