Real Estate Glossary
- Offer - Indication by a potential buyer of a willingness to purchase a home at a specific price; generally put forth in writing.
- Origination - The process of preparing, submitting, and evaluating a loan application; generally includes a credit check, verification of employment, and a property appraisal.
- Origination Fee - The charge for originating a loan; is usually calculated in the form of points and paid at closing.
- Owner Financing - A property purchase transaction in which the property seller provides all or part of the financing.