Real Estate Terms

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Term Definition

A term which can refer to the institution making the loan or to the individual representing the firm. For example, loan officers are often referred to as "lenders." In a Realtor's vernacular, a lender is the bank or mortgage company making the loan to a buyer.


A term for any kind of single family home, condominium, townhouse or piece of land for sale. The listing may come from the MLS, from a bank's site if the property is bank-owned. The presence of a listing dictates the accompaniment of a listing agreement, usually between a real estate agency and an owner or seller. Agency representation is the foundation of such an agreement.


Refers to home loans other than government backed loans (VA and FHA). Conventional loans typically require a buyer down payment of a minimum of 5% (95% max. loan-to-value or LTV).

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