Definitions related to mortgages, refinancing, real estate, and lending.

What are points?

Definition: points

Points, or mortgage points, are fees made directly to the lender at a closing, given in exchange for a reduced interest rate.

What is accrued interest?

Definition: accrued interest

Accrued interest is the interest on a bond or loan that has accumulated since the principal investment.

What is property and casualty insurance?

Definition: property and casualty insurance

A large umbrella term that covers many forms of insurance. Property insurance protects owners in the case of damage from weather, theft, fire, and other forces. Casualty insurance pays for legal costs that results from property damage or bodily injury that was caused by your negligence.