Who this article is for
This article is for:
New borrowers who want to understand key terms
Anyone reading Nestwise articles who sees unfamiliar language
Homebuyers comparing multiple mortgage lenders
Glossary
Nestwise
A technology-forward mortgage company that helps people buy or refinance homes through a digital, guided process supported by licensed mortgage specialists.
Nestmatch™
A borrower rewards program created by Nestwise.
Nestmatch gives eligible borrowers Nestwise-funded rewards for making on-time mortgage payments.
It is not active yet and is scheduled to launch in Q1 2026.
Premier Access™
A pre-launch benefit for borrowers who close a Nestwise mortgage before Nestmatch goes live. Premier Access gives these borrowers priority access and early eligibility when Nestmatch launches.
Purchase Loan
A mortgage used to buy a home. Nestwise offers 30-year fixed-rate purchase loans for primary homes, second homes, and investment properties.
Refinance (Rate-and-Term Refinance)
Replacing your current mortgage with a new one to change your interest rate, monthly payment, or loan term.
Cash-Out Refinance
A type of refinance where you replace your current mortgage and take out a portion of your home equity as cash.
Primary Residence
The home where you live most of the time. Borrowers typically receive the most favorable lending terms on primary residences.
Second Home (Vacation Home)
A property you use for part of the year but is not your primary residence. Nestwise offers loans for second homes.
Investment Property
A property purchased to rent out or hold as an investment. Nestwise offers mortgages for eligible investment properties.
Conventional Loan
A mortgage that follows the rules of Fannie Mae and Freddie Mac, the national standards for most traditional home loans. All Nestwise loans are conventional loans.
Fannie Mae & Freddie Mac
Government-sponsored organizations that set guidelines for conventional mortgages. Their rules determine income, credit, and documentation standards.
Underwriting
The review process where a lender evaluates your income, credit, debts, and financial documents to decide if you qualify for a mortgage.
Conditional Approval
A loan approval that requires a few final items (such as updated documents, clarification, or verification) before it becomes a full approval.
Closing
The final step of the mortgage process where you sign all required documents, finalize your loan terms, and officially complete the purchase or refinance.
Escrow
A part of your monthly mortgage payment that goes toward property taxes and homeowner’s insurance. Nestwise manages escrow according to state and loan requirements.
NMLS (Nationwide Multistate Licensing System)
A national system that tracks mortgage licensing across states.
Nestwise’s NMLS ID is #2764733.
You can look up our licensing record at nmlsconsumeraccess.org.