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| Home | Ask Your Question | Mortgage Glossary | ||
EscrowAn account held by the lender into which the home buyer pays money for tax or insurance payments. Also earnest deposits held pending loan closing. |
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Related Mortgage Definitions: Escrow Escrow An account held by the lender into which the home buyer pays money for tax or insurance payments. Also earnest deposits held pending loan closing. You'll ... more... Earnest Money Earnest Money Money given by a buyer to a seller as part of the purchase price to bind a transaction or assure payment. This deposit made by a buyer of real estate towards the down paymen is typically held by the real estate brokers or the escrow company. ... more... Agreement of Sale Agreement of Sale A written signed agreement between the seller and the purchaser in which the purchaser agrees to buy certain real estate and the seller agrees to sell upon terms of the agreement. Also known as contract of purchase, ... more... Mortgage Broker Mortgage Broker An individual in the business of assisting in arranging funding or negotiating contracts for a client buy who does not loan the money himself. Brokers usually charge a fee or receive a commission for their ... more... |
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