A loan specifically for purchasing real estate, secured by the property itself.

A mortgage with a constant interest rate and monthly payments that never change.

A mortgage with an interest rate that may change periodically based on market conditions.

The percentage charged on a loan, expressed as an annual rate.

Fees and expenses incurred during the finalization of a mortgage, typically ranging from 2-5% of the loan amount.

An annual tax based on the value of owned property, assessed by local governments.

A type of insurance that covers damages to a home and its contents.

The process of creating a plan to spend your money, balancing income with expenses.

Costs that can fluctuate, such as utilities and groceries, unlike fixed expenses.

A company that owns, operates, or finances income-producing real estate, allowing investors to earn a share of the income.

The value of an owner's interest in a property, calculated as the current market value minus any outstanding mortgage balance.

A plan for allocating resources to maximize returns while managing risk.

The process of evaluating potential risks involved in an investment.

A structured format for tracking income and expenses, helping to manage finances effectively.

Software or applications designed to help individuals manage their financial activities.

Financial objectives set for a longer time frame, typically over five years.

Financial objectives to be achieved within a shorter time frame, usually within a year.

The total amount of money being transferred in and out of a business or individual's account.

A financial institution or individual that provides funds for a mortgage.

A method of comparing different mortgage options to determine the best fit for your financial situation.

The ability to understand and make effective decisions regarding financial matters.

Owning a home in a financially responsible manner that ensures long-term stability.

Constructive criticism and suggestions from fellow students to improve project submissions.