Wholesale Mortgage Services of Wisconsin, LLC.

• Mortgage Calculators
• Mortgage Glossary
• Credit Scores
• Loan Pre-approval
• Purchase Process
• Home Refinance
• Buying a Condominium
• Mortgage Forms
• What Can I Expect
• No Closing Costs
• Mortgage For Beginners
• Mortgage Insurance (PMI)
• Mortgage Rate Commentary

Please click on the letter below to skip to the definition of the word you are looking for.

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

E

Earnest Money

Money given by a buyer to a seller as part of the purchase price to bind a transaction or assure payment.

Easements

An interest in property, owned by another that entitles the holder to a specific limited use or privilege, such as the right to cross or to build adjoining structures on the property.

Encroachment

A fixture of a piece of property which intrudes on another's property.

Equal Credit Opportunity

Act Is a federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status or receipt of income from public assistance programs. (ECOA)

Equity

The difference between the fair market value and current indebtedness, also referred to as the owner's interest.

Escrow Waiver

The Request for a borrower to pay their own taxes and insurance. Escrow wavers are rarely granted with less than a 25% equity position (<75 LTV).

Escrow

Refers to a neutral third party who carries out the instructions of both the buyer and seller to handle all the paperwork of settlement or "closing." Escrow may also refer to an account held by the lender into which the homebuyer pays money for tax or insurance payments.