Real Estate Home Loan
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Package loan - A package loan is a real estate loan used to finance the purchase of both real property and personal property, such as in the purchase of a new home that includes carpeting, window coverings and major appliances.
Luxury real estate - Luxury real estate describes a niche in the real estate market dealing with the highest socio-economic group of property buyers. Since real estate buyers in this group tend to own many homes, the terms vacation property and second home are inaccurate.
Points (real estate) - Points are a form of pre-paid interest. One point equals one percent of the loan amount.
Equity loan - An equity loan is a mortgage placed on real estate in exchange for cash to the borrower. For example, if a person owns a home worth $100,000, but does not currently have a lien on it, they may take an equity loan at 80% loan to value (LVR) or $80,000 in cash in exchange for a lien on title placed by the lender of the equity loan.
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