A document that authorizes an individual to act on behalf of someone else. …
Pre-Approval
Pre-approval is a preliminary assessment by a mortgage lender of a potential borrower's creditworthiness and financial capacity to obtain a loan for a specified amount. This evaluation is based on the …
Pre-Approval Letter
A letter from a lender that states the amount of money a potential buyer can obtain. …
Pre-Sold Home
A home that is sold before it is built. …
Prepaid Expenses
Expenses including taxes, insurance, and assessments that are paid before the due date. …
Prepaid Fees
Funds collected by the lender from the borrower to pay certain recurring items in advance, including interest, property taxes, hazard insurance, and, if applicable, private mortgage insurance (PMI). …