Homeowner Education

Prime Rate Prime Rate Definition In Residential Real Estate The Prime Rate is a benchmark interest rate used by lenders as a reference point for

Principal Principal Definition In Residential Real Estate Principal refers to the original amount of money borrowed or invested in a real estate transaction, excluding interest

Preapproval Preapproval Definition In Residential Real Estate Preapproval is a lender’s written indication that a prospective buyer has been evaluated and is conditionally eligible to

Prepayment Penalty Prepayment Penalty Definition In Residential Real Estate A Prepayment Penalty is a contractual provision that allows a lender to charge a fee if

Points Points Definition In Residential Real Estate Financing Points are upfront charges paid in connection with residential real estate financing that affect the overall cost

Portfolio Lender Definition In Residential Real Estate A Portfolio Lender is a lending institution that originates residential real estate loans and retains those loans as

Piggyback Loan Definition In Residential Real Estate A Piggyback Loan is a residential real estate financing structure that uses more than one loan secured by

Periodic Rate Definition In Residential Real Estate Periodic Rate refers to the interest rate applied to a loan balance for a specific billing or accrual

Per Diem Interest Definition In Residential Real Estate Per Diem Interest refers to interest that accrues on a residential real estate loan on a daily

Paydown Definition In Residential Real Estate Paydown refers to the reduction of an outstanding loan balance through payment applied directly to the amount owed. In