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Real Estate & Mortgage Glossary

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Parcel
Partition
Partnership
Passive loss
Passive solar system
Patent defect
Payment cap
Percolation test
Per-diem interest
Panel
Paneling
Parking strip
Patio
Perennial
Pergola
Personal property
Pest-control inspection
Pier
PITI (Principal, Interest, Taxes, Insurance)
Planned communities
Planned-unit development
Plaster
Pocket door
Point
Porch
Porte cochere
Portfolio lender
Portico
Possession
Power of attorney
Pre-approval letter
Prepaid expenses
Prepaid interest
Prepayment penalty
Prequalification
Pre-sold home
Pressure relief valve
Price range
Primer
Principal
Principle of conformity
Principle of progression
Principle of regression
Privacy fence
Private mortgage insurance (PMI)
Probate sale
Production home
Programming
Project budget
Property line
Property report
Property tax
Property tax deduction
Property value
Proration
Punch list
Purchase agreement
Purchase-money mortgage

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