Sales Terms Crossword

The process by which a mortgage lender makes a home loan and records a mortgage against the borrower’s real property as security for repayment of the loan.
An added cost associated with submitting an application for consideration.(Two words) Application
Credit Report / A detailed summary of an individual's credit history, prepared by a credit
Buydown / A mortgage-financing technique with which the buyer attempts to obtain a lower interest rate for at least the first few years of the
Term / Represents a period of time until a loan achieves
Closing Costs / The expenses, over and above the property's price, that buyers and sellers usually incur to complete a real estate transaction. (Two
Discount Points / A sum of money paid by the borrower or home buyer to the lender of the mortgage to decrease the interest rate of a mortgage. (Two
Loan Officer / A representative of a bank, credit union, or other financial institution who assists borrowers in the application process. (Two
Broker / A third party who arranges funding or negotiates a contract between parties, but does not lend the
Purchase Agreement: A written contract signed by the buyer and seller stating the terms and conditions under which a property will be sold. (Two
Preapproval / A lender’s conditional agreement to lend a specific amount of money to a homebuyer under a specified set of
APR / The annual cost of a loan to a borrower expressed as a percentage. It includes other charges or fees to reflect the total cost of the
Earnest Money / A deposit made toward a down payment as a sign of good faith. (Two
Interest Rate / The annual cost of a loan to a borrower, usually expressed as a percentage that does not include fees charged for the loan. (Two