Buying a home in today’s marketplace is a bit intimidating.
Buying a home in today’s marketplace is a bit intimidating.
Closing
Also referred to as settlement. The meeting at the conclusion of a real estate sale in which the real estate listing property and funds are exchanged between the two parties involved.
Debt-to-Income Ratio
The ratio, expressed as a percentage, which results from dividing a borrower’s monthly payment obligation on real estate listings long-term debts by the borrower’s gross monthly income.
Discount Points
Prepaid interest assessed at closing by the lender. A point is equal to 1 percent of the loan amount.
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