Mortgage Loans Assumable Mortgage A mortgage that a buyer can take over from the seller, often at the seller’s existing rate.
Mortgage Loans Balloon Mortgage A loan with smaller initial payments and a large final payment of the remaining balance.
Mortgage Loans Bank Statement Loan A non-QM loan that qualifies borrowers using bank statements instead of tax returns.
Mortgage Loans Beneficiary (Trust Deed) The lender named in a deed of trust who benefits from the security interest.
Mortgage Loans Cash-Out Refinance A refinance for more than the existing loan balance, with the difference paid in cash to the borrower.
Legal & Title Easement by Necessity An easement created when property would be landlocked without it.
Legal & Title Easement in Gross A personal easement that doesn’t transfer with property — like utility easements.
Legal & Title Eminent Domain The government’s right to take private property for public use, with just compensation.
