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. Principal One of the parties to a transaction. For example, the buyer and seller are principals in the purchase of real property. Title Ownership of real property.
Title is transferred from one party to another through a document called adeed.
Title insurance Protection for lenders and homeowners against financial loss resulting from legal defects in or other claims against the property's title. This policy of NOT transferable upon future conveyance. Trust 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 downpayment, mortgage qualification assistance and low interest rates.