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Home Offers USA >> Glossary >> Glossary - M

We Buy Houses Glossary - M

Margin
An amount the lender adds to a catalog to conclude the interest rate on adjustable rate mortgage payments.

Mortgage
A lien or claim aligned with real property given by the buyer to the lender as protection for the money borrowed. Under government-insured or loan-guarantee requirements, the payments may comprise escrow amounts covering taxes, hazard insurance, water charges, and special assessments. Mortgages generally run from 10 to 30 years, during which the loan is to be paid off. It’s a lien on the property that ensures the assurance to repay a loan.

Maintenance
Activities required compensating for wear and tear of a property.

Real Estate Glossary of Terms

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