A loan made during the construction of a building or a project. A permanent loan usually replaces this loan after completion….
Continue ReadingA mortgage that combines some attributes of a fixed rate mortgage with attributes of an adjustable rate mortgage (e.g., a loan that is fixed for 5 years but then becomes…
Continue ReadingA form of insurance in which the insurance company protects the insured from certain losses, such as fire, vandalism, storms, and certain other natural causes. Also called Homeowners Insurance….
Continue ReadingA sum of money given to bind a sale of real estate. Usually held by the real estate company until closing….
Continue ReadingA provision that makes the occurrence of one event dependent upon the completion of another. For example, the purchase of a home may be contingent on the seller repairing structural…
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