|A|B|C|D|E|F|G|H|I|J|K|L|M|N|O|P|Q|R|S|T|U|V|W|X|Z|
|P|
|
prepaids Those expenses of property which are paid in advance of their due date and will usually be prorated upon sale, such as taxes, insurance, rent, etc. prepayment penalty A charge imposed by a mortgage lender on a borrower who wants to pay off part or all of a mortgage loan in advance of schedule. |
pre-qualification
When a lender or broker figures out how much you qualify to borrow.
principal
Amount of debt, not including interest. The face value of a note or mortgage.
private mortgage insurance (PMI)
Insurance provided by non-government insurers that protects lenders against loss if a borrower defaults. Investors generally require private mortgage insurance for loans with loan-to-value (LTV) percentages greater than 80%.
