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origination fee
A fee imposed by a lender to cover certain processing expenses in connection with making a real estate loan. Usually a percentage of the amount loaned, such as one percent.
owner financing
A property purchase transaction in which the property seller provides all or part of the financing.
Planned Unit Developments (PUD)
A subdivision of five or more individually owned lots with one or more other parcels owned in common or with reciprocal rights in one or more other parcels.
PITI
Principal, interest, taxes and insurance--the components of a monthly mortgage payment.
points
1% over and above the current interest rate used in the context of refinancing or taking out a loan.
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