Sales Contract
Sale Leaseback
Satisfaction
Savings Account
Second Mortgage
Secured Card
Secured Debt
Security
Security Deposit
Self-Employed
Seller Carryback
Seller's Agent
Seller's Market
Servitude
Settlement Statement
Shared Appreciation Mortgage
Shared Equity Partnership
Short-Term Capital Gain / Loss
Simple Interest
Single
Soft Inquiry
Special Assessment
Square Footage
Standard Card
Starter Home
Stated Income Loan
Statement
Subordinate Loan
Subprime Borrower
Subprime Mortgage
Survey
Sweat Equity

Sale Contract
A written agreement between buyer and seller detailing price and other conditions in the purchase of a property or item.

Sale Leaseback
A real estate transaction where the seller transfers the deed to the buyer and then proceeds to rent the property from the new owner.

Satisfaction
Discharge of an obligation of an individual by completing what is necessary.

Savings Account
A liquid account that offers no to low minimum balance requirements. It pays the account holder with a low interest rate for opening and maintaining the account with them. There are generally no restrictions with these types of accounts.

Second Mortgage
A loan using a home's equity as collateral and is positioned second behind a first mortgage.

Secured Card
A credit card where the card is secured by a savings account or checking account. This type of credit card is generally used by those with a poor credit history or those who cannot get typical credit cards by other methods.

Secured Debt
A debt using property as collateral, such as: mortgages.

Security
Property held as collateral.

Security Deposit
An amount, usually a month's payment, that must be paid up front. It is to be returned at the end of the lease if no damage, late charges, or fees apply.

Self-Employed
An individual who runs a trade or business rather than being an employee working for a company or another individual.

Seller Carryback
A form of financing where the seller accepts to finance the down payment and accepts payments until the property is paid for.

Seller's Agent
An agent representing the seller and must have an allegiance to the seller.

Seller's Market
A real estate market where the buyers overwhelmingly outnumber the sellers. Because demand is so much higher than supply, prices increase.

Servitude
A burden of one estate to profit or benefit another.

Settlement Statement
A document detailing who has paid for what and to whom.

Shared Appreciation Mortgage
A loan where the lender offers the borrower a lower interest rate in exchange for sharing in the profit of appreication when the property is sold.

Shared Equity Partnership
An agreement or arrangement where one buyer lives in the property while the other does not but still has an ownership interest.

Short-Term Capital Gains / Loss
Profit or loss that has been gained by the sale of a property or item which has been held in ownership for less than a year.

Simple Interest
Interest calculated using the principal balance without any compounding considerations.

Single
An individual that files taxes as a single, unmarried individual.

Soft Inquiry
A reflection on an individual's credit report indicating that someone has requested a copy of his or her own credit report. This type of inquiry does not affect the individual's own credit score.

Special Assessment
A fee charged by the government or homeowner's association to pay for maintenance or improvements to a property.

Square Footage
The area within a building.

Standard Card
A basic, typical credit card offered to the general public.

Starter Home
A dwelling or property smaller than standard but much less expensive than normal. This is usually bought as a first home to enter the real estate market.

Stated Income Loan
A type of loan where the income of the borrower is not documented. This type of documentation method was created especially for self-employed borrowers whose income varies month to month.

Statement
A record detailing transactions on an account.

Subordinate Loan
A loan or mortgage whose priority is lower than another mortgage.

Subprime Borrower
A borrower with less than perfect credit.

Subprime Mortgage
A mortgage given to a borrower with less than perfect credit.

Survey
A precise measurement of a parcel's dimensions.

Sweat Equity
The increased value of a property by improvements made by the owner.