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| Each letter will take you to a list of financial terms and their meaning. |
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Owner Occupied
This indicates that the property is the owner’s primary residence. |
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Origination Fee
A fee imposed by a lender to cover the costs of arranging loan documents, making credit checks, inspecting and occasionally appraising real estate. It is generally computed as a percentage of the loan face value. |
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One-year adjustable
A mortgage whose annual rate changes from year to year. Normally, the rate is based on movements of a published index plus a specified margin, which is chosen by the lender. |
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Occupancy
Use of a property as a permanent residence either by the title holder (owner-occupancy) or by another party through an official agreement (rental). |
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| « Back to Glossary |
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