Real Estate Glossary "O"
Original Principal Balance - The total amount of principal owed on a mortgage before any payments are made.
Origination Fee - A fee paid to a lender for processing a loan application, making a home loan, and recording a mortgage against the borrower's real property as security for repayment of the loan. The origination fee is stated in the form of points. One point is 1% of the mortgage amount (e.g., 1,000 on a $100,000 loan).
Owner Financing - A property purchase transaction in which the property seller provides all or part of the financing and takes back a security instrument.
Lake Austin Estate
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When it comes to your home or land sale in the Austin / Central Texas area, wouldn't you love to have a team of professionals take care of your entire transaction from start to finish? That way you can rest assured that nothing slips through the cracks and all your needs are met. But can you afford to do it?
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