Glossary

 Cornish: 207-625-3222  Limerick: 207-793-2004

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 Limerick Office:
Phone:
207-793-2004
E-mail Limerick

Cornish Office:
Phone:
207-625-3222
E-mail Cornish

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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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