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Glossary (click letters)

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BALLOON PAYMENT – one large payment for the remaining principal balance of a mortgage, due at a time specified in the contract.

BASIS POINT (BP) – 1/100th of 1% expressed as a margin over an index rate.

BORROWING ENTITY TYPE – the legal form under which property is owned.

BRIDGE/SHORT TERM LOAN – a short–term or interim loan for borrowers who need more time to find permanent financing or are repositioning a commercial property.

BUILDING PERMIT – a document, issued by government regulatory authority that allows a builder to construct or modify a structure.

BUILDING SF – the usable square footage of the building.

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Andrew, Sadie and your team did a great job on Dan and Annabelle’s loan, and I thank you very ...

- Scott Liming | Iron Oak Mortgage

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