| A | B |
|---|
| Security Deposit | Money paid in advance to protect a seller against damage or non payment |
| Lease | A contract granting use of occupation of property for a specific amount of time |
| Eviction | Process of kicking out a tenant |
| Landlord | One that owns or rents land or buildings |
| Tenant | one that pays rent to use or occupy land or buildings |
| Equity | The difference between market value of property and the amount owed on it |
| Closing Costs | Money paid to finalize the transaction of buying property |
| Earnest Money | Money given by a buyer to a seller to bind a contract |
| Down Payment | Deposit paid on an item purchased |
| Fixed Rate Mortgage | Mortgage loan where interest stays the same for the life of the loan |
| Adjustable Rate Mortgage | Mortgage loan with interest rate periodically adjusted |
| Lien | A financial claim to property |
