Buying A House Vocab

Front

Expenses beyond purchase price, like escrow fees and real estate commission.

Back

Closing Cost

Front

Legal document for property ownership transfer

Back

Deed

Front

Difference between a house's worth and what is owed.

Back

Equity

Front

1% of loan amount charged by lender.

Back

Points

Front

Cost of borrowing money.

Back

interest

Front

Amount of loan still to be repaid.

Back

Principle

Front

Legal term for a lender taking and selling a home to recover debt.

Back

Forclosure

Front

Licensed professional specializing in home sales.

Back

Real Estate Agent

Front

US Department of Housing and Urban Development

Back

HUD

Front

Amount paid by buyer upon signing sale agreement.

Back

Down Payment