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Confused about all the new terminology?
Mortgage insurance - Required by lenders in some loans to protect them from a possible default . All conventional loans with less than a 20 percent down payments require private mortgage insurance, or PMI.
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Real Estate Terms Glossary
Kit home
A structure that contains prefabricated components and is put together by a contractor.
Knee wall
A wall-like structure that supports roof rafters.
Knob-and-tube wiring
An old-fashioned wiring system that has been replaced by fuses and circuit breakers.
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