Rate spread
The difference between a loan’s APR and the average prime offer rate for a comparable loan, measured in percentage points.
APOR
Average prime offer rate, a benchmark reflecting rates and other terms offered to borrowers on comparable mortgages.
Points and lender credits
Points are upfront charges that may reduce a rate. Lender credits reduce upfront costs and can involve a higher rate.
DTI and CLTV
Debt-to-income ratio compares debt payments with income. Combined loan-to-value compares total secured lending with property value.
Denial reasons
Reasons a lender reports for denying an application, such as debt-to-income ratio, credit history or collateral.