Real Estate Terms
Glossaries
Term | Definition |
---|---|
Lender | |
Listing | 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. |
Loan | 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). |
