Assurance


Definition of "Assurance"

Giving of a promise or guarantee to the receiver to instill confidence.

Have a question or comment? We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 

Search Real Estate Terms

 

Popular Real Estate Terms

Satisfaction Piece

Lender's written assurance that the borrower has fully paid the obligation. The borrower may then show this instrument to interested parties. ...

Continuing Commitment

Recurring obligation or assurance given. ...

Budget Mortgage

Involves monthly payments for property taxes and insurance, besides principal and interest. The tax and insurance payments are put into an impound acc ...

Full Covenant And Warranty Deed

Widely used of property deed containing five warranties: Covenant of seisin. This is an assurance the purchaser has possession of the estate in qu ...

Managed Care Organization (mco)

Entity that offers a managed care plan for workers compensation benefits that joins a provider network with the following parts: case management perso ...

Contract Chicanery

Inserting provisions into a loan contract that severely disadvantage the borrower, without the borrowers knowledge, and sometimes despite oral assuran ...

Popular Real Estate FAQ

What Is Flood Insurance?

Flood insurance is insurance that compensates for the physical property damage resulting from rising water. ...

What Is A Rate Lock?

A rate lock is a commitment issued by a lender to a homebuyer or to the mortgage broker guaranteeing a specific interest rate for a specified amount o ...

What Is The Difference Between A Real Estate Broker And A Real Estate Agent?

The terminology used to identify real estate professionals differs a little from state to state. Brokers are usually required to have more education ...

What Is A Housing Ratio?

A housing ratio is the percentage of your housing payment (principal, interest, taxes, and insurance) to your monthly gross income. Lenders use this r ...

What Is An Amortization?

The process of paying off a loan balance. As you make payments, a certain amount is applied to the principal and a certain amount to the interest. ...

What Is A Front-end Ratio?

A front-end ratio is a ratio of the borrowers monthly housing expenses-including principal, interest, property taxes, and insurance (OITI)-compared to ...

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

Agents join here
Add our widget on your Website

Real Estate Advice

Down Payment: Everything You Wanted to Know Luxury Real Estate Forecast Furnished Rental Tips for Real Estate Investors How to Buy a House Quickly What is a Credit Score and How Does it Impact Real Estate?

FAQ

What does the Real Estate Settlement Procedures Act (RESPA) require? What is a broker? What is a qualifying ratio? What is a lock in? What is an agent?