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Savings and Loan Association (S and L)
Savings and Loan Association (S and L) A financial institution whose principal function is to promote thrift and home ownership. Depositors earn interest on their deposits, often at a higher rate than is offered at commercial banks.
RELATED TERMS--------------------------------------
Principal 1) The outstanding balance of a loan. 2) A party to a real estate transaction. 3) The head of a real estate firm.
Thrift A financial institution established to promote "thrift" by accepting savings deposits, and to make home mortgage loans.
Ownership The right to possess and use property to the exclusion of others.
Interest Money paid to a lender as compensation for money that is borrowed.
Rate Percentage a borrower pays for the use of money, usually expressed as an annual percentage.
SIMILAR TERMS--------------------------------------
Savings bank A type of depository financial institution, found mostly in the northeastern United States, that accepts consumer deposits and invests these funds primarily in residential mortgages and high-grade securities.
PREVIOUS AND NEXT TERMS--------------------------------------
Saltbox style A design that dates to colonial times and takes its name from the shape of saltboxes.
Sandwich lease When a tenant has a current lease with the owner of a property and then "sublets" the property to a third party.
Sanitary sewer The drain line in a house that carries away food and human wastewater to a municipal sewer system or a septic system.
Sash One of two windows in a double-hung window.
Satisfaction of mortgage Document issued by mortgagee when the mortgage is paid off.
Savings and Loan Association (S and L)
Savings bank A type of depository financial institution, found mostly in the northeastern United States, that accepts consumer deposits and invests these funds primarily in residential mortgages and high-grade securities.
Schematic designs Structural plans for a building’s mechanical systems, such as its plumbing and electrical functions.
Season Designated season of the year denoting period of ownership for exchange or usage value.
Second deposit The additional deposit made at the signing of the purchase and sale agreement.
Second home Commonly known as a vacation home. This home is not rented and is occupied occasionally by the owners.
This dictionary contains 6433 terms. |
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