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Real estate

Of or pertaining to property of land and the buildings on it. This also includes any minerals, crops, or any other natural resource. The business of real estate is the buying, selling, or renting property.

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Real estate > Mortgage

applicant
Banking; Mortgage

A prospective borrower who has completed an application.

application fee
Banking; Mortgage

A fee charged by a lender to cover initial costs of processing a loan application, often including charges for property appraisal and a credit report.

appraisal
Banking; Mortgage

A report made by a qualified person setting forth an opinion or estimate of property value. The term also refers to the process by which this estimate is obtained.

assessed valuation
Banking; Mortgage

The value that a taxing authority places on real or personal property for the purpose of taxation.

abstract of title
Banking; Mortgage

A summary of recorded transactions concerning a particular property.

acquisition costs
Banking; Mortgage

Costs of acquiring property other than purchase price, for example, attorney fees, title insurance, and lender's fees.

margin
Banking; Mortgage

The set percentage the lender adds to the index rate to determine the interest rate of an ARM.

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