Jo Dorner

Real Estate Glossary

balloon mortgage
A mortgage that requires payment of the entire outstanding balance at the end of a specified term. A loan may be paid off at a twenty year rate, for example, but at the end of ten years, the remaining amount would have to be paid in total.
bill of sale
Written documentation of a sale. For example, such documentation is often used if an item of value is sold to generate funds for a down payment.
bridge loan
The mortgage financing that takes place between the termination of one loan and the beginning of another.
buy-down
A mortgage financing technique in which the seller or builder makes a payment to the lender. This reduces payments for the buyer for a fixed number of months.
Joline L. Dorner R(S) 29732
Hawaii Life Real Estate Brokers
Christie’s International Real Estate
Who’s Who Hawaii Real Estate
Top 100 for 2008
www.jodorner.com
Cell 808 276 9015
Office 808 667 5028
Email: Jo@JoDorner.com
Hawaii Life
Mailing Address
Jo Dorner, R(S)
P.O. Box 998
Lahaina, HI 96767
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