Denver Real Estate Glossary

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O

Original Principal Balance - The total amount of principal owed on a mortgage before any payments are made.

Origination Fee - A fee paid to a lender for processing a loan application, making a home loan, and recording a mortgage against the borrower's real property as security for repayment of the loan. The origination fee is stated in the form of points. One point is 1% of the mortgage amount (e.g., 1,000 on a $100,000 loan).

Owner Financing - A property purchase transaction in which the property seller provides all or part of the financing and takes back a security instrument.

 

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"I called Union Capital just to find out if the rate quoted by my bank was fair. It turns out that Union Capital offered a much lower rate/fees. My mortgage loan closed on time and I saved over $5,000 with a lower interest rate. Union Capital was right there every step of the way."
-- Rob P., Denver, CO

Today's Rates

4.250

30 Year Fixed (4.374 APR)*

3.750

15 year Fixed (3.921 APR)*

3.375

5 year ARM (4.532 APR)*
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