| A | B |
|---|
| Mortgage Insurance | Protects the lender in case a mortgage loan payment cannot be made and the lender has to take the property back through a process known as foreclosure (also known as private mortgage insurance) |
| Mortgage | A loan for the purchase or real estate |
| Real Estate Agent | Licensed individual representing a buyer or seller in a contractual transaction to purchase real property |
| Rent | The price paid for the use of someone else’s property |
| Rental Agreement | A contract specifying the tenant’s and landlord’s legal responsibilities |
| Renter's Insurance | An optional (but important) purchase that covers damage and or loss of personal property and liability in a rental home |
| Security Deposit | Money paid to a landlord to cover potential cleaning costs at the end of the lease, as well as any damages the property suffered during occupancy |
| Special Assessments | Fees collected by the local city government for utilities, road maintenance and other services such as fire protection and street lighting |
| Tenant | A person who rents the property |
