Security - This refers to the address of the property being pledged as security for your loan.

Self Employed Borrower - The self employed borrower causes a more difficult mortgage process. This kind of borrower documents their income in alternative ways rather using information form an employer.

Settlement - (see closing)

Simple Interest - The interest calculated on a principal sum, not compounded on earned interest.

Single Family - A single-family home is a residence that houses one family.

Site Condominium - A detached single-family dwelling characterized as a site condominium by the way it is platted by the builder, however it is still considered a condominium.

Structural Improvements - A "Structural Improvement" is any permanent improvement made to your property that is not strictly for decorating purposes. Examples include: additions, new flooring, kitchen or bathroom upgrades, new windows and central air. Swimming pools are considered structural improvements only if they are in ground and your property is in a year round warm weather climate.

Survey - A mortgage survey is a bird's eye sketch of your property that shows the boundary lines of your lot, and details any encroachments between you and your neighbors.

Sweat Equity - Value added to a property in the form of labor or services by the owner rather than by cash.