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FL Vocabulary 01

Across
A loan to help you purchase a home.
An asset that a borrower offers as a way for a lender to secure the loan.
The amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets.
An examination of a house’s structure to determine the current condition of the house.
A schedule of periodic loan payments
A loan whose interest rate does not change over the life of the loan
The committing of money or capital to an endeavor with the expectation of obtaining an additional income or profit.
Every two weeks
A professional estimate of a property’s market value at a certain point in time.
Down
The deed to a house. A paper that grants ownership
A loan (usually a second mortgage) set up as a line of credit using existing equity in the house.
An amount paid up front to reduce the size of the loan and to provide secure equity for the lender.
The action of taking possession of a mortgaged property when the mortgagor fails to keep up their mortgage payments.
An estimate of the ability of a person to fulfill their financial commitments.
The date and time at which all fees and payments are made and documents signed to finalize the purchase of a home.
Paying more than is required by the contractual mortgage agreement.
The value of ownership built up in a home or property that represents the current market value of the house less any remaining mortgage payments.
The amount of the loan still owed by the borrower.
A form of insurance or investment entitling the investor to a series of annual sums.
A portion of one's income not spent and secured in a financial institution for future use.
The length of the loan in years.
The yearly interest rate specified by the lender