1. Principal: The original loan amount borrowed, excluding interest.

2. Interest Rate: The percentage charged by the lender for borrowing the principal amount.

3. Amortization: The process of repaying the loan through scheduled, regular payments that include both principal and interest.

4. Term: The period over which the loan is repaid. Common terms include 15, 20, or 30 years.

5. Down Payment: The initial payment made by the borrower when purchasing a home, expressed as a percentage of the home's purchase price.

6. Closing Costs: Fees and expenses associated with finalizing the mortgage transaction, including appraisal fees, title insurance, and legal fees.

7. Credit Score: A numerical representation of a borrower's creditworthiness, influencing the interest rate offered by the lender.

8. Pre-approval: The process of assessing a borrower's creditworthiness and determining the loan amount for which they qualify before house hunting.

9. Prequalification: An initial assessment of a borrower's ability to qualify for a mortgage based on income, credit score, and other factors.

10. Fixed-Rate Mortgage: A mortgage with a constant interest rate and fixed monthly payments throughout the entire loan term.

11. Adjustable-Rate Mortgage (ARM): A mortgage with an interest rate that may change periodically, usually in relation to an index.

12. Escrow Account: An account set up by the lender to hold funds for property taxes and homeowners insurance, paid along with the mortgage.

13. Private Mortgage Insurance (PMI): Insurance that protects the lender in case the borrower defaults, typically required for down payments less than 20%.

14. Appraisal: An assessment of a property's value by a licensed appraiser.

15. Homeowners Association (HOA) Fees: Regular fees paid by homeowners to a homeowners association for the maintenance of common areas and services.

16. Deed: Legal document transferring ownership of a property.

17. Closing Disclosure: A document that outlines the final terms of the mortgage loan, including closing costs and loan terms, provided to the borrower before closing.

18. Title Insurance: Insurance protecting against defects in the property title that may arise.

19. Debt-to-Income Ratio (DTI): A financial ratio comparing a borrower's monthly debt payments to their gross income.

20. Underwriting: The process by which a lender evaluates a borrower's creditworthiness and determines loan approval.

This list provides a basic overview, and it's important for clients to seek clarification on any terms they find unfamiliar during the mortgage process.