Where cozy means tiny and charming means needs work.
Lending practices that exploit borrowers through high rates, hidden fees, or complex terms—basically, the lender is the wolf and you're in an increasingly questionable deal.
Insurance required by lenders when a borrower puts down less than 20%, protecting the lender (not the borrower) if you default. It's a tax you pay for not having enough money.
Prepaid interest charges (1 point = 1% of loan amount) used to buy down mortgage rates. The lender's way of letting you pay extra now to pay less later.
The binding contract between buyer and seller detailing price, terms, and conditions—basically the real estate relationship's prenup. Everything that matters is in this document.
The splitting of annual property taxes between seller and buyer based on ownership duration at closing—a mathematical exercise in dividing the tax burden.
The four components of a monthly mortgage payment. It's the financial encapsulation of homeownership—the most boring acronym that affects your budget more than anything else.
A garden structure consisting of a framework of beams or latticed wood, typically attached to a house and often covered with climbing plants like vines or roses. It provides partial shade and creates an attractive outdoor living space.
A location so desirable that landlords charge you rent that exceeds your entire salary. Also applies to your browser's top-fold ad space.
The magical process where your real estate magically increases in value while you sleep, right up until the market crashes.