Down payment made by a purchaser of real estate as evidence of good faith.

Land charge, easement, life estate or other right of use.

The term "ESCROW" will be used often during the process of your loan. The first time you encounter it will be the Realtor's escrow account that holds your earnest money check until closing.

That portion of borrower's monthly payment held by lender to pay real estate taxes, homeowner's insurance and mortgage insurance.