Acronyms | Get to know title! | Money, Money, Money, Money! |
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What is Home Owners Association
What does HOA stand for?
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A document that provides final details about the mortgage loan you have selected. It includes the loan terms, your projected monthly payments, and how much you will pay in fees and other costs to get your mortgage
What is a closing disclosure?
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A specific type of asset-based loan financing through which a borrower receives funds secured by real property. Hard money loans are typically issued by private investors or companies.
What is hard money?
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What is Home Equity Line of Credit
What does HELOC stand for?
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A form of indemnity insurance that protects lenders and homebuyers from financial loss sustained from defects in a title to a property.
What is title insurance?
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What is a US Federal Housing Administration mortgage insurance backed mortgage loan that is provided by an FHA-approved lender. FHA insured loans are a type of federal assistance.
What is an FHA loan
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What is Foreign Investment in Real Estate Property Tax Act
What does FIRPTA stand for?
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Neither! We are an intermediary
Does the title company favor the buyer, or seller?
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A $0 down mortgage option available to Veterans, Service Members and select military spouses. VA loans are issued by private lenders, such as a mortgage company or bank, and guaranteed by the U.S. Department of Veterans Affairs (VA).
What is a VA loan?
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What is Multiple Listing Service
What does MLS stand for?
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An examination of public records to determine and confirm a property's legal ownership, and find out what claims or liens are on a property.
What is a title search?
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A loan provided by the seller of a property or business to the purchaser. When used in the context of residential real estate, it is also called "bond-for-title" or "owner financing."
What is seller-financing?
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What is Power of Attorney
What does POA stand for?
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Land surveys are professional drawings that outline the exact boundaries of a property, as well as the dimensions and location of any home, structures, easements, or additions located on the premises. They may also include any fence locations, elevation or topographic details, and rights of way.
What is a survey?
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Realtors, Lenders, New Development Builders!
What is the best type of referral for Allied Title & Escrow?
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