Across
- 2. (The institution or individual providing the mortgage loan)
- 3. (The original loan amount, excluding interest)
- 7. (The initial payment made when purchasing a home, typically a percentage of the home’s price)
- 10. (Federal Housing Administration, which insures loans to first-time homebuyers)
- 11. (The cost of borrowing money, typically expressed as an annual percentage)
- 12. (The difference between the market value of the property and the amount owed on it)
- 13. (The final step in the mortgage process where the loan is officially completed)
- 14. (The process of gradually paying off a loan over time with scheduled payments)
Down
- 1. (Obtaining a new loan to replace an existing one, often with different terms)
- 4. (An expert's assessment of the property’s value)
- 5. (A legal document proving ownership of the property)
- 6. (The legal process of taking possession of a mortgaged property when the borrower fails to make payments)
- 8. (A third-party account used to hold funds for taxes and insurance)
- 9. (Private Mortgage Insurance, required for loans with less than a 20% down payment)