Circuit Breaker

Document that must accompany a new issue of securities for a real estate company or partnership. It includes the same information in the registration statement, such as a list of directors ...

Range reconnaissance, or surveying, for the purpose of preparing grazing capacity estimates. There are two parts to a range survey: mapping of grazing cover varieties and associated ...

Also called the Rule of the Sum of the Digits. An approach that bank use to formulate a loan amortization schedule. It results in a borrower paying more interest in the beginning of a ...

Inflation adjusted interest rate. ...

Beam, girder, or truss with the top portion being in the shape of a bow and the bottom portion being straight across and connecting both ends of the top portion. ...

Lack of supply of real property. When demand exceeds supply, price of the property goes up. For example, if there are only a few homes in a town that everyone desires to reside in, the ...

A hidden or overlooked defect that may manifest itself at a later point in time. For example, a defect in a water pipe is not immediately discovered, and it later results in a massive water ...

In law, substituting a suitable person or entity for an original party to a contract. It terminates the old contract and begins a new one. The new contract has the same provisions, but ...

Equity is the financial interest or cash value of your home, minus the current loan balance(s). If selling the home, this would also be minus any costs incurred in selling the home. If ...

Are you wondering what is the difference between being prequalified and preapproved for a loan? Do you always get confused because they seem pretty much the same thing, right? But there is ...

A penalty fee charged for paying off a mortgage early, thus allowing banks to still make money off of the loan in the event that you inherit a small fortune. Most loans these days do not ...

You probably don't have the correct knowledge to represent yourself. The seller pays the real estate commission, not the buyer, and real estate commissions are already set in the listing ...

An index is an economic indicator used to set the rate for adjustable-rate mortgages. ...

If you plan to stay forever in a certain place, buying is better than renting. Banks and mortgage brokers offer such a huge variety of loans that it is almost impossible not to find ...

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

A Buildable acre consists of 43,560 square feet of residentially designated buildable land, after excluding present and future rights-of-way, restricted hazard areas, public open spaces and ...