| "Houghton Real Estate Leader" |
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| Real Estate Glossary
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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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