Houses for sale in Victoria

discount points
Fees which the borrower pays when a lender makes a loan, to get the lower interest rate. Lenders offer various rate/point combinations, and borrowers pay points to adjust a interest rate to a market rate. One point equals one percent of a loan amount.

total monthly housing costs
The sum of principal, interest, property taxes, and if applicable, private mortgage insurance (PMI) and either hazard insurance or homeowners' association dues.

common area
An area inside the housing development which is owned by all residents.

resilient channel
A channel run across wall studs underneath wallboard to reduce sound transmission.