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Obligations
Any debt, or recurring payment the borrower is obligated to pay, including mortgage payments.
Origination fee
A fee imposed by a lender to cover certain processing expenses in connection with making a real estate loan. Usually a percentage of the amount loaned, such as one percent.
Owner financing
A property purchase transaction in which the property seller provides all or part of the financing
Owner occupied
Designation given to property used as the owner's residence.
Owners policy
A policy of the title insurance which protects the buyer against problems with the title.
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