Rate

Definition of "Rate"

Same as term Interest Rate: The rate charged the borrower each period for the loan of money, by custom quoted on an annual basis. A mortgage interest rate is a rate on a loan secured by a specific property. The interest rate is used to calculate the interest payment the borrower owes the lender.

Search Real Estate Glossary

Related Real Estate Glossary terms

Predatory Lending

A variety of unsavory lender practices designed to take advantage of unwary borrowers. Predatory le ...

Title Insurance

Insurance required of home buyers by lenders, to protect against losses arising from disputes over t ...

Cost Containment Provision

In many health insurance and dental insurance policies, stipulation that, if the estimated cost of a ...

Business Starts Index

Compilation that reports the number of new incorporated and nonincorporated businesses started durin ...

Landlocked

Parcel of land that is totally surrounded by other land parcels not providing access to a highway. ...

Biweekly Mortgage

A mortgage on which half the monthly payment is paid every two weeks. This results in 26 payments pe ...

Related Real Estate FAQ

What Are Paid Advertorials?

Paid advertorials are articles written by public relations professionals that have just one goal in ...

What Is Joint Tenancy?

A joint tenancy is an equal, undivided ownership in a property by two or more individuals. ...

What Is An APR And What Does It Include?

An APR stands for an ANNUAL PERCENTAGE RATE. This rate includes the costs of any points paid, mortga ...

What Is A Commitment Letter?

A commitment letter is a formal offer of a loan by a lender. The letter states the terms under which ...

Who Is A Subagent?

A subagent is an agent who works with you to purchase a house but is paid by the seller. ...

What Is Homeowners Association (HOA)?

Homeowners association is a nonprofit association that manages the common areas of a condominium or ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

10 Tips for Homebuyers What do Real Estate Attorneys do? 6 Reasons you are not selling properties Tax Breaks for the First Time Home Buyer 5 U.S. Cities with the Best Public Transportation

FAQ

What is a down payment? What is the difference between being prequalified and preapproved for a loan? What is a loan origination fee? Do you have any tips to help me manage my investing? What is escrow?