EPF 4.3

an agreement between you and a lender that allows you to borrow money to purchase or refinance a home and gives the lender the right to take your property if you fail to repay the money you've borrowed

• Lease

• Escrow

• Mortgage

• Collateral

the fee a lender or broker charges to cover their processing costs when an individual applies for a mortgage or for the ability to lease a property

• paper fee

• leasing fee
• application fee
• mortgage fee

money that is given to a lender, seller, or landlord as proof of intent and may be used to pay for damages caused by a renter

• security deposit

• down payment
• monthly installment

• rental fee

a homebuyer's loan made through a private lender

• conventional mortgage loan

• personal mortgage loan
• individual mortgage loan
• exclusive mortgage loan

a home loan option with a specific interest rate for the entire term of the loan

• Variable Rate Mortgage

• New Rate Mortgage

• Jumbo Mortgage

• Fixed Rate Mortgage

an interest rate that adjusts over time in response to changes in the market

• fixed rate

• flexible rate
• adjustable rate
• fluctuating rate

a written statement detailing a person's desires regarding their medical treatment in circumstances in which they are no longer able to express informed consent

• Living will
• Medical power of attorney
• Durable power of attorney
• Secured consent

a tax on the profit from the sale of an asset such as bonds, stocks, real estate and property

• capital gains tax
• sales tax
• property tax
• income tax

the cost you pay each year to borrow money, including fees, expressed as a percentage

• Principal
• Loan Amount
• Annual Percentage Rate (APR)
• Interest Rate

property owned by a person or company, regarded as having value

• asset
• debt
• expense
• liability