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O
 
Original Principal Balance
The total sum of principal owed on a loan prior to any payments being made and applied to the principal balance.

Origination Fee
The fee imposed by the bank, which is usually a percentage of the amount borrowed by the client, to cover certain processing costs related to providing the mortgage.

Owner Financing
This is when the sale of a property is partially or entirely financed by the actual seller as opposed to a bank.

Owner's Title Policy
In the event of possible future title disputes, this policy protects the buyer for the purchase price amount.
 
 
 
 

 

 
 

 
 

 

 
 

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