Real Estate Glossary

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Real Estate Glossary for — 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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