Dictionary

Definition:   the party who hires a real estate broker to represent them in a real estate transaction; the amount of money borrowed in a mortgage loan, excluding interest Pronunciation:   \ˈprin(t)...

Definition:   the market in which lenders originate loans and make funds available directly to borrowers Pronunciation:   \ˈprī-ˌmer-ē\ \ˈmär-kət\ Used in a Sentence:   A commercial bank is an exam...

Definition:   a financial institution such as a savings association or bank, that makes mortgage loans directly to borrowers Pronunciation:   \ˈprī-ˌmer-ē\ Used in a Sentence:   We used our local b...

Definition:   a legal term used to refer to evidence that is good and sufficient on its face to establish a given fact or prove a case; at first view Pronunciation:   \ˌprī-mə-ˈfā-shə\ \ˈe-və-dən(t...

Definition:   the illegal practice of conspiring to establish fixed prices or fees for services rendered or goods sold; brokers conspiring to establish a standard commission rate Pronunciation: Use...

Definition:   the amount of money  actually paid for an item in a transaction Pronunciation: Used in a Sentence:   The actual sale price of the house was $475,000.

Definition:    the worth of all future benefits of an investment in terms of today’s dollars Pronunciation: Used in a Sentence:   When comparing the two properties we reviewed the present value of ...

Definition:   the amount set by the creditor as a penalty to the debtor for paying off the debt before it matures Pronunciation:  \(ˌ)prē-ˈpā-mənt\\ˈpe-nəl-tē\ Used in a Sentence:   A prepayment pe...

Definition:   a provision in a mortgage that allows the mortgagor to pay the mortgage debt ahead of time without penalty Pronunciation:   \(ˌ)prē-ˈpā-mənt\ \ˈklȯz\ Used in a Sentence:   Since we h...