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Vacationers choose homes over hotels
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More tourists opt for cheaper accommodations in houses and condos.

Christopher Boyd
Sentinel Staff Writer

January 16, 2007

Some of the hottest vacation accommodations in Central Florida are hiding in plain view, cloaked so completely in the commonplace that they are in a sense invisible.

Thousands of single-family homes, town houses and condominiums clustered in newly built subdivisions near Walt Disney World are in fact vacation homes available for short-term rental. They cater to economy-minded group travelers who can save hundreds of dollars in hotel bills by renting an entire home instead of a number of adjacent rooms.

To help your understanding, we have listed some of the real estate terms and their definitions that you maybe unfamiliar with, when obtaining a mortgage and buying your property in the USA.

Glossary of U.K. Mortgage terms
These definitions are those commonly used within the lending industry in UK and abroad.

Property has become a highly popular asset among UK investors in recent years. More and more people have entered the buy-to-let market in the UK, but interest rate rises and the growing supply of rental property has brought yields down in many areas and the prospects for capital gains in the short term have declined. High property prices have also made it increasingly difficult for investors to build up their portfolios. As a result, a growing number are turning their attention to the overseas property market.

The British have a long history of buying property abroad in popular locations such as USA, Spain and France as holiday homes so that they can enjoy the better weather and better quality of living. But now rental income and capital gains appear to be the main reasons for their interest in overseas property purchase. The expansion of the European Union last May is stimulating property investors to look further afield to countries in Eastern Europe and Cyprus, while the weakness of the dollar has made property purchase in the United States increasingly attractive.

If you buy new windows, you'll not only pay for the windows, you will also pay an installation fee. When you purchase a car, you pay tax, title, assumption fee, etc. Just about every major purchase comes with extra costs or fees, and home loans are no different. Most people think they don't have to pay costs on a loan, because they are paying interest on the loan (they figure this is their fee ? a premium on the money). A mortgage, however, does not come free.

While some are mandatory, others are not. Follow these guidelines, and you'll never pay too much for your purchase mortgage or refinance loan. The origination fee -- The fee that bothers people the most is the origination fee. This is often confused with points, but should not be. Points are something completely different. The origination fee is what you pay the loan officer to originate or create and complete your home loan, whether it's a purchase or a refinance. All mortgage people charge them, whether they work for a mortgage brokerage or for a bank.