Fees and expenses paid by you and the seller for the purchase, sale, or financing of the property.
A document required by the Regulating Governing Bodies that itemizes all charges relating to loan. It also shows the annual percentage rate and finance charges with other important facts about your loan.
A type of conventional loan that meets the loan limits and underwriting guidelines established by Fannie Mae and Freddie Mac. These tend to have lower interest rates but more stringent approval guidelines.
A legally binding clause added to a purchase agreement that states specific conditions must be met within a set amount of time. These conditions if unmet can void the contract.
Any mortgage that is not government insured or guaranteed. These loans have more favorable terms but also carry more stringent requirements (such as higher FICO requirements)