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Realtor Jargon:
Closing costs:
Expenses related to the sale of real estate including loan, title, and appraisal fees. These costs are above and beyond the price of the property and are paid at closing. Most closing costs are one-time expenses however a few are recurring.

Debt	Abstract or title search	Accelerated cost recovery system
Acceleration clause	Acceptance	Addendum
Additional principal payment	Adjustable rate mortgage (ARM)	Adjustment period
Agency closing	Agency disclosure	Agreement of sale
Alienation clause	Alternative mortgage	Amortization
Amortization tables	Amortization term	Annual mortgagor statement
Annuity	Application fee	Appraisal
Appraisal fee	Appraisal report	Appraised value
Appreciation	APR (annual percentage rate)	ARM (adjustable rate mortgage)
ARM index	Assessed value	Assessment
Assets	Assignment	Assignor
Assumable mortgage	Assumption clause	Assumption fee
Back title letter	Back-end ratio	Balance sheet
Balloon loan	Balloon payment	Bankruptcy
Base loan amount	Basis point	Before-tax income
Bill of sale	Binder	Binder
Biweekly mortgage	Blanket mortgage	Book value
Break-even point	Bridge loan	Broker
Brokerage	Buydown mortgage	Buyer's remorse
Call option	Cap	Capitalization
Capitalization rate	Caps (Interest Rate Caps)	Carryback financing
Cash flow	Cash-out refinance	Cashier's check
Certificate of deposit index (CODI)	Certificate of eligibility	Certificate of occupancy (CO)
Certificate of Reasonable Value (CRV)	Certificate of veteran status	Chain of title
Clear title	Closing	Closing costs
Closing statement	Cloud on title	Co-signer
COFI Index (Cost of Funds Index)	Commercial Mortgage	Commercial Mortgage Broker
Commercial Mortgage Lender	Commitment	Commitment fee
Comparables	Compound interest	Conditional commitment
Conditional sale	Conforming loan	Construction documents
Construction loan	Construction-to-permanent loan	Conventional loan
Convertible adjustable-rate mortgage	Cooperative mortgage	Courier fee
Credit history	Credit life insurance	Credit rating
Credit report	Credit repository	Credit Risk Score
Credit Score	Debt-to-Income Ratio	Deed
Deed of trust	Default	Delinquency
Delinquent mortgage	Department of Veterans Affairs (VA)	Deposit
Disclosure	Discount points	Document needs list
Documentation Preparation Fee	Down payment	Draw
Due on Sale clause	Earnest money	Earthquake insurance
Easement	Encumbrance	End loan
Entitlement	Equal Credit Opportunity Act (ECOA)	Equifax
Equity	Errors and omissions insurance	Escrow
Escrow account	Escrow agent	Escrow closing
Escrow company	Escrow Disbursements	Escrow payment
Estate	Estimated closing costs	Estimated hazard insurance
Estimated property taxes	Examination of title	Executed contract
Experian	Fair Credit Reporting Act	Fair Housing Act
Fannie Mae	Farmer's Home Administration (FMHA)	Federal Home Loan Mortgage Corporation (FHLMC)
Federal Housing Administration (FHA)	Federal National Mortgage Association (FNMA)	FHA loans
FHA Mortgage Insurance	Firm commitment	First mortgage
Fixed time	Fixed-rate mortgage	Flood certification
Flood insurance	For Sale By Owner (FSBO)	Freddie Mac
Front-end ratio	Fully Amortized ARM	Gift
Ginnie Mae	Good faith estimate	Government National Mortgage Association (GNMA)
Grace period	Graduated Payment Mortgage	Gross income
Growing-equity mortgage	Hazard insurance	High-rise
Home equity line	Home equity loan	Home inspection
Home inspector	Home price	Homeowner's insurance
Homeowners Association (HOA)	Homeowners Association dues	Homestead
Housing expense ratio	HUD	HUD-1 Uniform Settlement Statement
Impounds	Income property	Index
Indexed Rate	Initial interest rate	Initial rate cap
Initial rate duration	Inspection fee	Inspection report
Insurance binder	Insured Mortgage	Interest accrual rate
Interest only loan	Interest paid over life of loan	Interest rate
Interest rate buy-down plans	Interest rate cap	Interest rate ceiling
Interest Rate Floor	Interim financing	Investment property
Joint liability	Joint tenancy	Jumbo loan
Junior mortgage	Late charge	Late payment
Lease-Purchase	Leasehold	Legal blemish
Legal description	Lender	Liabilities
Liability insurance	LIBOR	Lien
Life cap	Lifetime Payment Cap	Lifetime Rate Cap
Liquid assets	Loan application	Loan application fee
Loan commitment	Loan officer	Loan origination fee
Loan term	Loan-to-value ratio (LTV)	Lock-in
Lock-in period	Low-documentation loan	LTV (loan-to-value ratio)
Maintenance fee	Margin	Market value alue
Merged credit report	Modification	Modified annual percentage rate (APR)
Monthly association dues	Mortgage	Mortgage acceleration clause
Mortgage banker	Mortgage broker	Mortgage broker business
Mortgage insurance	Mortgage Interest deduction	Mortgage life insurance
Mortgagee	Mortgagor	Negative amortization
Net cash flow	Net worth	No-cash-out refinance
No-documentation loan	Non-assumption clause	Non-conforming loan
Non-liquid asset	Nonrecurring closing costs	Note
Note rate	One-year Adjustable Rate Mortgage	Option
Option Arm Loan	Original principal balance	Origination fee
Owner financing	Payment cap	Payment Change Date
Per-diem interest	Periodic Payment Cap	Periodic Rate Cap
PITI (principal, interest, taxes, and insurance)	Pledged Account Mortgage (PAM)	Point
Pre-approval	Pre-approval letter	Prepaid expenses
Prepaid fees	Prepaid interest	Prepayment penalty
Prequalification	Principal paid over life of loan	Principle of conformity
Private mortgage insurance (PMI)	Processing fee	Property tax
Purchase-money mortgage (PMM)	Qualifying ratio	Quitclaim deed
Rate cap	Rate lock	Rate-improvement mortgage
Recording fee	Refinancing	Regulation Z
Rehabilitation mortgage	Remaining balance	Remaining term
Rescission	Reverse mortgage	Right to rescission
Sales contract	Second mortgage	Seller carry-back
Seller financing	Settlement or closing fees	Settlement statement
Shared-appreciation mortgage	Shared-equity transaction	Step-rate mortgage
Subordinate loan	Subsequent rate adjustments	Subsequent rate cap
Super jumbo mortgage	Survey	Sweat equity
Tax lien	Tax service fee	Teaser rate
Tenancy by the entirety	Tenancy in common	Timeshare
Title	Title company	Title Exam
Title insurance	Title insurance binder	Title risk
Title search	Total expense ratio	Total lender fees
Total loan amount	Total monthly housing costs	Total of all payments
Townhouse	Trading down	Trading up
Trans Union Corporation	Transfer tax	Treasury Index
Two-step mortgage	U.S. Department of Housing and Urban Development	Underwriters' knot
Underwriting	Underwriting fee	Unrecorded deed
VA (Veterans Administration)	VA loan	Variable rate mortgage (VRM)
Verification of deposit (VOD)	Verification of employment (VOE)	Warehouse fee
Wraparound mortgage	Yield spread