Finance Charge the total cost, including all fees, points and interest payments a borrower pays to obtain credit. Fixed Rate Mortgage interest rates on this type of mortgage remain the same over the life of the loan term. Compare to 'Adjustable Rate Mortgage. Graduated Payment Mortgage monthly payments start low and increase at a predetermined rate. Hazard Insurance compensates for property damage from specified hazards such as fire and wind.
More complete coverage is given by all-risk homeowner's insurance.
Home Inspection Report prepared by a qualified inspector, it evaluates a property's structure and mechanical systems. Interest the cost of borrowing money, usually expressed as a percentage over time. Listing Contract agreement whereby an owner engages a real estate company for a specified period to sell property, for which upon sale the agent receives a commission. Market Value the price that is established by present economic conditions, location, and general trends. Market Price the actual price at which a property sold.