Fees that a borrower pays when the lender makes the loan, to get a lower interest rate. Lenders offer various rate/point combinations, and borrowers pay points to adjust the interest rate to the …
Distressed Property
Property that is in poor physical or financial condition. …
Document Needs List
A list of documents a lender requires from a potential borrower submitting a loan application. The required documents range from paycheck stubs to credit card statements. …
Documentation Preparation
A fee charged by the settlement agent (escrow company or attorney) to ready the necessary paperwork for closing. …
Deposit
Money given by the buyer with an offer to purchase property. Also called earnest money. A sum of money that is required to be paid with an offer to purchase as a symbol of the purchaser's …
Damper
A movable plate in a fireplace that allows smoke and fumes to travel up the chimney's flue. …