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Prepayment Penalty

A fee charged for paying off a loan early.

by Sukhumalin  July 11, 2025

Bridge Loan

Short-term financing used until permanent financing is secured or property is sold.

by Sukhumalin  July 11, 2025

Hard Money Loan

A short-term, high-interest loan secured by real estate, often used by investors.

by Sukhumalin  July 11, 2025

Construction Draw

A scheduled payment made to a builder as work progresses on a construction loan.

by Sukhumalin  July 11, 2025

Lien

A legal claim against property as security for a debt.

by Sukhumalin  July 11, 2025

Recording Fees

Government fees paid to officially record property documents.

by Sukhumalin  July 11, 2025

Escalation Clause

A contract provision allowing for price adjustments under certain conditions.

by Sukhumalin  July 11, 2025

Covenant

A legal promise in a deed specifying how the property can be used.

by Sukhumalin  July 11, 2025

Deed Restriction

A condition written into a deed limiting how the property can be used.

by Sukhumalin  July 11, 2025

Plat Map

A map showing the divisions of a piece of land, used for planning and legal purposes.

by Sukhumalin  July 11, 2025

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Discover the essential real estate terms that will elevate your game and give you the confidence to navigate the market like a pro! Dive in and explore the terms that interest you the most.

Glossary Of Real Estate Lending List

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