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Loan Glossary - E
Earnest Money
 

A sum of money given to the seller, real estate broker or escrow agent with an offer to purchase real estate as evidence of good faith. Also known as deposit.


Estimated Property Value
 

The Purchase Price or Current Market value of a specific property.


Equifax Credit Services
 

A credit reporting agency that provides a detailed report itemizing an individual's credit history and current credit status.


Equity
 

The portion of a property's value over and above the loans (liens) against it (i.e., value of property minus loans against property).

 

 

 


 

 

 

 

 

   
 

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