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Industry Terms
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This is a collection of commonly used Mortgage terms,
to help you become a more informed borrower. |
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Title Insurance
An insurance policy which protects the insured against loss arising from defects in title. Title insurance policies are typically obtained for the buyer and the lender. |
Transfer Tax
Tax paid to the city, county, state or other government entity upon sale of a property. |
Underwriting
The decision whether to make a loan to a potential home buyer based on credit, income, employment history, assets, etc. |
