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Glossary

63 Silver Street  Waterville, ME  04901                     207- 873- 0751                                                      info@affiliatedrlty.com

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Check out our updated Glossary!

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O

original principal balance
The total amount of principal owed on a mortgage before any payments are made.

origination fee
A fee paid to a lender for processing a loan application. The origination fee is stated in the form of points. One point is 1 percent of the mortgage amount.

owner financing
A property purchase transaction in which the property seller provides all or part of the financing.

 

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