increase in price levels and reduction in the value of money

fee charged by a lender for the use of borrowed money; expressed as a percentage of the amount borrowed

written proof a lender is willing and ready to lend an individual a specific amount of money for a mortgage based on verified income and asset

person who is licensed to negotiate and arrange real estate sales

value of an owner's share in a property; value minus debt

percentage of a person's income which goes toward paying debts; one way lenders measure an individual's ability to borrow

loan to finance the purchase of real estate

detailed written document which, once signed by

both parties, becomes a legally binding contract

process during which the title to the property is transferred to the buyer, also known as settlement

record of how an individual has repaid debts in the past, used as a guide to measure the individual's ability to borrow