In the "Loan Terms" section, if it says "yes," that the monthly principal and interest can change, it means your payments could go up. This probably means it's an adjustable-rate mortgage, which isn't necessarily a trap, but it's important to know.
Directly under that, the document tells you whether the loan has a prepayment penalty or a balloon payment. A prepayment penalty is designed to make it financially painful to refinance. Balloon payments are rare and usually are for rural homes.