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Landscape
A home's surroundings can range from a shrub-studded emerald lawn to a native-plant xeriscape. It is a major component of curb appeal.
Lease
A binding agreement that contains the terms and conditions of a renter's occupancy.
Lease option
A lease that contains the right to purchase the property for a specific price within a certain time frame.
Leverage
The use of a small amount of cash--a 5 percent or 10 percent down payment--to buy a piece of property.
Liabilities
A borrower's debts and financial obligations.
Lien
A claim laid by one person or company on the property of another as security for money owed.
Liquid assets
Cash and all other assets that can be converted to cash relatively quickly. Liquid assets can include money in savings and checking accounts, money-market accounts, and most certificates of deposit.
Loan -to-value ratio
A technical measure used by lenders to assess the relationship of the loan amount to the value of the property
