Sasso Home Marketing Group

The best decisions start with the best information.™

Though it's been noted a thousand times before it’s nevertheless true; buying a home is one the most important financial decisions you will make. If you're planning to buy or sell a home in South Surrey / White Rock, then you'll want to make use of the information that we've assembled here in our resource section. Take a look through this section to get the information you need and don't hesitate to contact us with any questions. As always, our commitment is to provide you with the best information along with the best service to make your next move the right move.

Glossary

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One-year Adjustable

Mortgage whose annual rate changes yearly. The rate is usually based on movements of a published index plus a specified margin, chosen by the lender.

Open House

A selling tool in which a real-estate agent advertises a property for sale and invites people to visit without making an appointment.

Open Mortgage

A mortgage that can be paid off prior to maturity without penalty.

Operating Loan

A loan intended for short-term financing, supplying cash flow support or to cover day-to-day operating expenses.

Option

A legal agreement giving someone the right to buy, sell or lease a property or item at specified terms for a specified period.

Oral Agreement

A spoken, unwritten legal agreement, worth the paper it's printed on.

Original Principal Balance

The amount borrowed.

Ordinary Income

Income that does not qualify as a capital gain. Wages, interest, dividends and net income from a business are examples of ordinary income.

Origination Date

The date on which the loan is funded.

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