The flashcards below were created by user
leakinmysoul
on FreezingBlue Flashcards.
P=%xT
Part equals percent times total - a basic formula for real estate math
Loan Factor
A monthly payment amount of principal and interest required to amortize a loan of $1,000 based on the interest rate and the term of the loan - loan amount divided by 1,000 times the factor equals payment
Debit
A debt at closing as shown on the closing statement
Credit
Cash due at closing as shown on the closing statement
LTV
Loan to value ratio - the percent of the price that the buyer is borrowing - high LTV means low down payment