Real Estate and Mortgage Glossary & Definitions
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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
