Definitions - There are a lot of terms involved in real estate deals.  Here I have provided definitions to aid with your understanding.

Please click on the Terms below to see their definition. (You need to allow popups)

• Adjustments at Closing
• Amortization
• Anniversary Period
• Blended Payments
• Bridge Financing
• Carrying Costs
• Closed Mortgage
• Closing Costs
• Closing Date
• Conditional Offer
• Conventional Mortgage
• Deed
• Default
• Deposit
• Down Payment
• Equity
• Fire Insurance Firm Offer
• First Mortgage
• Fixed-Rate Mortgage
• Gross Debt Service Ratio (GDS)
• High Ratio Mortgage
• Home Equity
• Inspection
• Interest Rate Differential Amount (IRD)
• Interim Financing
• Maturity Date
• Mortgage
• Mortgage Life Insurance
• Mortgagee
• Mortgagor
• Multiple Listing Service (MLS)
• Open Mortgage
• P.I.T.
• Porting
• Power of Attorney Pre-approval
• Prepayment
• Prepayment Penalty
• Principal
• Real Estate Agent
• Refinancing
• Renewal
• Second Mortgage
• Security
• Survey
• Term
• Title
• Title search
• Total Debt Service Ratio (TDS)
• Variable Rate Mortgage (VRM)
• Vendor