Real Estate Terms & Definitions

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O

original principal balance: The total amount of principal owed on a mortgage before any payments are made.

origination fee: A fee paid to a lender for processing a loan application. The origination fee is stated in the form of points. One point is 1 percent of the mortgage amount.

owner financing: A property purchase transaction in which the property seller provides all or part of the financing.

* $125.00 Rebate applies to lease terms of 6 months or greater.

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