An amount equal to one percent of the loan amount paid to a lender for making the loan. A lender may charge the borrower several points in order to provide the loan. One of the parties to a transaction. For example, the buyer and seller are principals in the purchase of real property. Usually referred to as the listing agent, this agent is authorized by a property owner to find a buyer or a tenant for the property.
Title is transferred from one party to another through a document called a deed.
A property interest held by one person for the benefit of another. A federal agency designed and operated to help veterans enter the housing market. The VA assists veterans in terms of low or no down payment, mortgage qualification assistance and low interest rates. A mortgage loan guaranteed by the US Department of Veterans Affairs against loss to the lender, and made through a private lender.