Purchase money mortgage. A mortgage given by the seller simultaneously with the purchase of real estate to secure the unpaid balance of the purchase price.

FAX

A condensed history or summary of all transactions affecting a particular tract of land.

Mortgages with an interest rate that may change up or down depending on an indicator. These are usually based on something like the current treasury bill rate.

A sworn statement in writing.

This means that most title insurance charges are included in one price.

To reduce a debt by means of regular periodic payments that include amounts applicable to both principal and interest.

On some mortgages, the APR is higher than your actual mortgage rate.

A mortgage that allows a new owner to take over payments. The original borrower remains liable on the mortgage note.

A written document by which the ownership of land is transferred from one person to another.