Earnest Money - A deposit given by the buyer to the seller demonstrating that the prospective buyer is serious a purchasing a home or property.

Equal "Credit Opportunity Act (ECOA) - Federal law that prohibits lenders from denying a loan on the basis of race, color, religion, national origin, age, sex, marital status, or income derived from public assistance programs.

Equity - The difference between the homeowner's outstanding mortgage balance and the fair market value of a property.

Equity Loans - A loan that is based on a borrower's equity in a home or property.

Escrow – The temporary placement of funds or other materials with an impartial third party for participants in a business transaction. Funds and /or materials are released by the escrow agent when the conditions of the contract have been met.

Escrow Agent – an impartial third party that holds and secures funds or materials until the conditions of a contract are met.