New York real estate glossary
Know the term. Understand the rule.
Search 189 exam terms from all 19 New York salesperson curriculum subjects. Every definition opens into a sourced guide with an exam cue, a practical example and the distinction students often miss.
How to use this glossary
Read the short definition first. Then open the term for the exam pattern, New York example and common mix-up.
Filter by topic Real estate finance
12 terms in Real estate finance
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Real estate finance
Mortgage
A security instrument that creates a lien on real property to secure repayment of a debt.
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Mortgagee
The lender or other holder that receives the mortgage interest securing the debt.
Open term guideReal estate finance
Mortgagor
The borrower or property owner who gives a mortgage as security for a debt.
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Real estate finance
Points
Upfront charges expressed as a percentage of the loan amount. Discount points are tied to a reduced interest rate.
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Private mortgage insurance
Insurance that protects a conventional mortgage lender against certain borrower default risk.
Open term guideReal estate finance
Promissory note
A borrower's written promise to repay a debt under stated terms.
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