Origination Fee
Same as term loan origination fee: The lender's charge to the borrower for administrative work when preparing the mortgage including credit checks, appraisal, and title expenses. For example, Sun Bank approved a $200,000 mortgage loan with a 2% loan origination fee resulting in a charge of $4,000.
Popular Real Estate Terms
Trade name by the American Cyanamid Corporation for a plastic laminate surfacing material widely used on furniture, counter tops and wall coverings. Formica is hard, durable, and resistant ...
Provision in a lease agreement allowing the landlord to raise the rental to take into account inflation, higher upkeep costs, and higher interest rates. An index may be used such as the ...
When a person dies, a distribution of their estate takes place. The estate’s distribution is done through deeds depending on whether or not the deceased left a will. Two types of ...
A leasehold estate that can be determined by the lesser or lessee at any time. ...
Real estate sales contract where possession and use is provided to the buyer, but the deed is kept by the seller until the full purchase price is met whereupon the title is placed in the ...
Contract that intends to convey property form one individual to another but is defective in one respect. ...
Shingles having uniform length, but random width. Random shingles give a creative appearance to a roof. ...
The definition of in rem in real estate is a legal case against a property rather than a person. The legal application of in rem in real estate is most often seen when a homeowner defaults ...
Permits oral evidence to augment a written contract in certain cases. ...
Have a question or comment?
We're here to help.