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0-9 | MORTGAGE LOAN TERMS
MORTGAGE LOAN COLLECTION
O
- Offer
- Agreement put forth by a potential buyer for a property that states a specific price which they are willing to pay.
MORTGAGE LOAN EXAMPLES: Offer
- Option ARM
- See Pay Option Adjustable Rate Mortgage
- Origination
- See Loan Origination
- Origination Fee
- See Loan Origination Fee
- Owner Financing
- Also known as seller financing, it is the purchase of real estate that is financed partially or in whole by the seller of the property.
- Owner Occupied (OO)
- In terms of a mortgage loan application, it refers to a property that is occupied as the primary residence by the individual applying for the loan.
RELATED MORTGAGE TERMS: Non-owner Occupied (NOO)
- Overage
- Difference in price that is actually paid by a mortgage loan borrower from the price quoted by the lender or mortgage broker.
MORTGAGE LOAN COLLECTION
MORTGAGE LOAN TERMS | 0-9
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MORTGAGE LOAN GLOSSARY
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MORTGAGE LOAN COLLECTION
