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?
HOA
What is Homeowner's Association?
This is typical length of years that a mortgage is spread out over.
What is 30 Years?
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 animated characters Stan, Cartman, Kyle and Kenny live in this town.
What is South Park?
PMI
What is Private Mortgage Insurance?
This is amount required for an FHA loan down payment.
What is 3.5%?
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 a Conventional Loan?
DAILY DOUBLE!!!!!!!
What does NAR Stand for
DAILY DOUBLE!!!!
National Association of Realtors
This is the highest possible credit score on the FICO scale.
What is 850?
Elvis Presley's home is named this.
What is GRACELAND?
CMA
What is Comparative Market Analysis?
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?
this is the name of the Wizarding School that Harry Potter attends?
What is Hogwarts?