Real Estate Glossary P

Definition of personal residence. The differences between a primarily personal residence and a secondary residence.

Definition of pest inspections

Definition of a piggyback loan

Definition of PITI

Definition of PSA as it pertains to mortgage service providers. Explanation of how a PSA works.

Description of Preapproval Letter

What is prepaid interest? Definition and explanation of the phrase prepaid interest, and how to calculate prepaid interest.

Definition of a prepayment penalty

Definition of prequalified

Definition of property taxes

Definition of promissory notes, differences between secured and unsecured promissory notes.

Definition of a contract to purchase real estate also known as a purchase contract

Definition of purchase money loan. What makes a purchase money loan different from a hard money loan?