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Glossary

1. Acceleration Clause

2. Acceptance Letter

3. Adjustable Rate Home Loan

4. Amortisation

5. Amortisation Period

6. Amortisation Schedule

7. Application

8. Appraisal

9. Appraised Value

10. Appreciation

11. Assets

12. Balloon Mortgage

13. Bona Fide

14. Borrower

15. Breach

16. Broker

17. Bounce Charges

18. Capital Expenditure

19. Carpet Area

20. Chain of Title

21. Closing Costs

22. Close Relatives

23. Co-applicant

24. Collateral

25. Collection

26. Common Areas

27. Compound Interest

28 Construction Loan

29. Contingency

30. Contract Sale (or Deed)

31. Conveyance Deed

32. Cooperative (co-op)

33. Credit Appraisal/Personal Interview

34. Credit Report

35. Default

36. Delinquency

37. Depreciation

38. Documentation

39. Downpayment

40. Earnest Money

41. Eligibility

42. Equated Monthly Instalment (EMI)

43. Encumbrance

44. Encroachment

45. Equitable Mortgage

46. First Mortgage

47. Fixed Rate of Interest

48. Foreclosure

49. Gross Monthly Income (GMI)

50. Guarantee

51. Hidden Charges

52. IIR (Income to Instalment Ratio):

53. In-principal Approval

54. Inspection of Property

55. Insurance (Property)

56. Interest

57. Khata, Chitti, Adangal

58. Lease

59. Legal Scrutiny Report

60. Lending Rate

61. Licence for Construction

62. Lien

63. Loan Against Property

64. Late Charge

65. Loan Tenure

66. LTV (Loan to Value Ratio)

67. Margin Amount

68. Marketable Title

69. Market Value

70. Maturity

71. Monthly Rests

72. Mortgage

73. Mortgage by way of Memorandum of Entry

74. Mortgagee

75. Mortgagor

76. Obligation of the Borrower

77. Origination Fee

78. Penal Interest

79. Personal Guarantor

80. Plinth Area

81. Power of Attorney

82. Pre-approval

83. Pre-EMI

84. Prepayment

85. Pre-sanction Inspection of Property

86. Property Tax

87. Post-dated Cheques

88. Principal

89. Refinance/Balance Transfer

90. Registered Mortgage

91. Retail Prime Lending Rate

92. Registered Owner

93. Registration Value

94. Rentals

95. Repayment

96. Returns

97. Role of Guarantor

98. Risk

99. Sale Agreement

100. Sale Deed

101. Sanction Letter

102. Sanctioned Plan

103. Security

104. Stamp Duty

105. Statement of Account

106. Super Built-up Areas

107. Tenure

108. Title

109. Title Deed

110. Title Search

111. Urban Land Ceiling and Regulation

112. Weighted Average Rate of Interest

Click on the links on the left to view definitions about particular terms.

 
 
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