Real Estate Appraisal Terminology
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mortgage appraisal service, real estate appraisal services, mortgage appraiser company, real estate appraisal service and commercial property appraisal.
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Original Principal Balance
This is the sum total for the principal balance for a mortgage loan prior to any payments being made by the borrower.
Origination Fee
For a government loan there is a loan origination fee of one percent for the total loan amount. There may be extra points charged referred to as "discount points." One point is equal to 1% of the total loan amount. To an origination fee is the total number of points that a borrower will pay for a conventional mortgage loan.
Owner Financing
This is a property sale/purchase where the seller finances the transaction, acting a "lender" for the borrower, without using a lending institution such as a bank or savings and loan.
