Definition: A charge of 1% of the mortgage value; assessment by a lender to increase the interest yield to compete with the interest yield from other types of investments. Pronunciation: \ˈdis-ˌkau̇nt\ \ˈpȯint\ Used in a Sentence: We paid 2 discount points in order to get a lower mort..
Definition: The amount of interest the Federal Reserve charges to lend money to its qualified banks. Pronunciation: \ˈdis-ˌkau̇nt\ \ˈrāt\ Used in a Sentence: The discount rate was lowered by the Federal Reserve to help stimul..
Definition: The diversion of savings from accounts with low fixed interest rates to direct investment in high-yielding instruments, ie stocks, money market funds and other securities. Pronunciation: \ˌdis-ˌin-tər-ˌmē-dē-ˈā-shən\ Used in a..
Definition: The governmental body that hears all formal hearings stemming from an administrative complaint against a licensee. Pronunciation: Used in a..
Definition: A state tax imposed on the transfer or conveyance of realty or any realty interest by means of deed, lease, sublease, assignment or similar instrument. Pronunciation: \ˈdä-kyə-men-tə-rē\ Used in a Sentence: The documentary tax stamp on the deed wa..
Definition: A window that is in a part of a building that sticks out from a slanted roof. Used to provide additional headroom, light and ventilation to an upstairs room. Pronunciation: \ˈdȯr-mər\ Used in a Sentence: The builder added a dormer window to the upstairs bedroom so that there was more..
Definition: A window consisting of two sashes that move up and down in a pair of channels and are held open by tension springs. Pronunciation: \ˌdə-bəl-ˈhəŋ\ Used in a Sentence: Because only half of a double-hung window can be opened at one time they provide less ventilation than other types o..
Definition: A portion of the purchase price paid prior to closing the transaction. Earnest money may be either part of or the entire down payment. Pronunciation: \ˈdau̇n\ \ˈpā-mənt\ Used in a Sentence: By making a larger down payment, we were able to get a lower payment on..
Definition: A situation where an agent (or agency) represents both principals in a transaction. (not a legal agency relationship in Florida). Pronunciation: \ˈdü(-ə)l\ \ˈā-jən(t)\ Used in a Sentence: It is illegal for a real estate licensee to operate as a dual agent i..
Definition: An acceleration clause found in most mortgage loans, requiring the mortgagor to pay off the entire mortgage debt when the property is sold. Pronunciation: Used in a Sentence: When we sold the house the due-on-sale clause specified that the balance of the mortgage needed to be pai..