Home Equity Loan Ohio
Home Equity Loan Ohio
Home Equity Loan Ohio

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Real Estate Terms of the Day for Home Equity Loan Ohio



BEQUEST
A gift of personal property by will.

MARGIN
A specified percentage that is added to your chosen financial index to determine your new interest rate at the time of adjustment for ARM loans.

MORTGAGE BROKER
An individual or company that arranges financing for borrowers.

TITLE SEARCH
Examination of municipal records to ensure that the seller is the legal owner of a property and that there are no liens or other claims against the property.

EQUITY
The difference between the current market value of a property and the total debt obligations against the property. On a new mortgage loan, the down payment represents the equity in the property.

GROSS LEASE
A lease of property under which the lessee pays a fixed rent, and the lessor pays the taxes, insurance, and other charges regularly incurred through ownership.

MASTER PLAN
A comprehensive plan to guide the long-term physical development of a particular area.

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