Real Estate Acronyms
WSHFC
What is Washington State Housing Commission?
This is the term used for the person who originates your home loans?
What is a Loan Officer?
This term is used to describe a professional estimate/opinion on the value of real estate
What is an appraisal?
The largest factor in determining one's credit score.
What is payment history?
In The Wizard of Oz, Dorothy said, "There is no place like home!"... Her home was in this tornado prone state.
What is Kansas?
PITI
What is Principal, Loan Interest, Property Taxes and Homeowner's Insurance?
This is a Zero down loan for rural areas that isn't backed by the Veteran's Association.
What is USDA/
This is the term for the legal document that is most often used to transfer title of real estate from previous to new owner.
What is The Deed?
This is the term for a debt that has not been paid as agreed and can occur in 30, 60, 90, 120+ day intervals.
What is delinquent or late payments?
The Flintstones lived in this town.
What is Bedrock?
HOA
What is a Home Owner's Association?
This is a term that the Washington State Housing Finance Commission will help provide for you.
What is Down Payment Assistance?
A Good Faith Gesture Deposit buyers put down when they have an accepted offer.
What is Earnest Money?
The single best way to build a positive credit score.
What is making on-time monthly payments?
This Real estate board game became the best-selling game in America just one year after it was created.
What is Monopoly?
FHA
What is the Federal Housing Administration?
This is a traditional loan that is not supported by HUD or the VA that requires a higher credit score?
What is Conventional?
DAILY DOUBLE!!!!!!! These additional fees and expenses, which can be anywhere from 2% to 5% of the home loan, are collectively referred to as
DAILY DOUBLE!!!!
What are Closing Costs
This is a three digit number created and is a type of credit score developed by the Fair Isaac Corporation.
What is a FICO score?
Elvis Presley's home is named this.
What is GRACELAND?
APR
What is Annual Percentage Rate?
This is the first thing you should do when you're ready to buy a home?
What is get Pre-Approved?
The company that completes the transaction for buyers and sellers.
What is the Title/Escrow company?
DAILY DOUBLE!!!!
The names of all three major credit reporting agencies.
What are Experian, TransUnion, and Equifax?
What real estate company has a hot air balloon for a logo?
What is RE/MAX?