Real Estate Glossary

Acceleration Clause	Adjustable-Rate Mortgage (ARM)	Adjustment Date	Amortization
Amortization Schedule	Annual Percentage Rate (APR)	Application	Appraisal
Appraised Value	Appraiser	Appreciation	Assessed Value
Assessment	Assessor	Asset	Assignment
Assumable Mortgage	Assumption	Balloon Mortgage	Balloon Payment
Bankruptcy	Bill Of Sale	Biweekly Mortgage	Bond Market
Bridge Loan	Broker	Buydown	Call Option
Cap	Cash-Out Refinance	Certificate Of Deposit	Certificate Of Deposit Index
Certificate Of Eligibility	Certificate Of Reasonable Value (CRV)	Chain Of Title	Clear Title
Closing	Closing Costs	Co-Borrower	Collateral
Collection	Commission	Common Area Assessments	Common Areas
Common Law	Community Property	Comparable Sales	Condominium
Condominium Conversion	Condominium Hotel	Construction Loan	Contingency
Contract	Conventional Mortgage	Convertible ARM	Cooperative (Co-Op)
Cost Of Funds Index (COFI)	Credit	Credit History	Creditor
Credit Report	Credit Repository	Debt	Deed
Deed-In-Lieu	Default	Delinquency	Deposit
Depreciation	Discount Points	Down Payment	Due-On-Sale Provision
Earnest Money Deposit	Easement	Effective Age	Eminent Domain
Encroachment	Encumbrance	Equal Credit Opportunity Act (ECOA)	Equity
Escrow	Escrow Account	Escrow Analysis	Escrow Disbursements
Estate	Eviction	Examination Of Title	Exclusive Listing
Executor	Fair Credit Reporting Act	Fair Market Value	Fannie Mae (FNMA)
Federal Housing Administration (FHA)	Fee Simple	Fee Simple Estate	FHA Mortgage
Firm Commitment	First Mortgage	Fixed-Rate Mortgage	Fixture
Flood Insurance	Foreclosure	401(K)/403(B)	401(K)/403(B) Loan
Government Loan (Mortgage)	Government National Mortgage Association (Ginnie Mae)	Grantee	Grantor
Hazard Insurance	Home Equity Conversion Mortgage (HECM)	Home Equity Line Of Credit	Home Inspection
Homeowners’ Association	Homeowner’s Insurance	Homeowner’s Warranty	HUD Median Income
HUD-1 Settlement Statement	Joint Tenancy	Judgment	Judicial Foreclosure
Jumbo Loan	Late Charge	Lease	Leasehold Estate
Lease Option	Legal Description	Lender	Liabilities
Liability Insurance	Lien	Life Cap	Line Of Credit
Liquid Asset	Loan	Loan Officer	Loan Origination
Loan Servicing	Loan-To-Value (LTV)	Lock-In	Lock-In Period
Margin	Maturity	Merged Credit Report	Modification
Mortgage	Mortgage Banker	Mortgagee	Mortgage Insurance (MI)
Mortgage Insurance Premium (MIP)	Mortgage Life And Disability Insurance	Mortgagor	Multi-Dwelling Units
Negative Amortization	No Cash-Out Refinance	No-Cost Loan	Note
Note Rate	No-Cost Loan	Notice Of Default	Original Principal Balance
Origination Fee	Owner Financing	Partial Payment	Payment Change Date
Periodic Payment Cap	Periodic Rate Cap	Personal Property	PITI
PITI Reserves	Planned Unit Development (PUD)	Point	Power Of Attorney
Pre-Approval	Prepayment	Prepayment Penalty	Pre-Qualification
Prime Rate	Principal	Principal Balance	Principal, Interest, Taxes, And Insurance (PITI)
Private Mortgage Insurance (MI)	Promissory Note	Public Auction	Planned Unit Development (PUD)
Purchase Agreement	Purchase Money Transaction	Qualifying Ratios	Quitclaim Deed
Rate Lock	Real Estate Agent	Real Estate Settlement Procedures Act (RESPA)	Real Property
Realtor®	Recorder	Recording	Refinance Transaction
Remaining Balance	Remaining Term	Rent Loss Insurance	Repayment Plan
Replacement Reserve Fund	Revolving Debt	Right Of First Refusal	Right Of Ingress Or Egress
Right Of Survivorship	Sale-Leaseback	Second Mortgage	Secondary Market
Secured Loan	Security	Seller Carry-Back	Servicer
Servicing	Settlement Statement	Subdivision	Subordinate Financing
Survey	Sweat Equity	Tenancy In Common	Third-Party Origination
Title	Title Company	Title Insurance	Title Search
Transfer Of Ownership	Transfer Tax	Treasury Index	Truth-In-Lending
Two-Step Mortgage	Two- To Four-Family Property	Trustee	VA Mortgage
Vested	Veterans Administration (VA)

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