Real Estate Terminology Simplified
- Adjustable Rate Mortgage (ARM)
- Annual Percentage Rate (APR)
- Appraisal
- Asset Statement
- Balloon Payment
- Buy Downs
- Buyer's Agent
- Closing
- Closing Costs
- Contingency
- Conventional Loan
- Deed
- Disclosure Statement
- Down Payment
- Earnest Money
- Escrow
- FHA Loan
- Foreclosure
- For Sale By Owner (FSBO)
- Home Equity Loan (HE)
- Home Inspection
- HomeOwner Association (HOA)
- Homeowners Insurance
- Interest Only Loan
- Lien
- Loan Officer vs. Mortgage Broker
- Loan-to-Value (LTV) Ratio
- Mortgages
- Origination Fee
- Pre-Approval
- Principal and Interest (P&I)
- Private Mortgage Insurance (PMI)
- Purchase and Sale Agreement
- Rent to Own/Lease Option
- Seller Financed Closing Costs
- Seller Financing
- Sellers Agent (Listing Agent)
- Settlement Statement (HUD-1)
- Single Family Home vs. Duplex
- Warranty Deed
- Zoning