Conforming Loans
Loans that adhere to national guidelines by Fannie Mae, who buy the loans on the secondary market. Fannie Mae purchases mortgages to a certain dollar limit. Conforming loans typically come with a lower interest rate than larger mortgage, or jumbo loans, which are purchased on the secondary mortgage market by another federally chartered company, the Federal Home Loan Mortgage Corporation.
Popular Real Estate Terms
To understand what an abatement notice is, one needs to understand the concept of nuisance abatement. Abatement notice is the notice given to the owner (or occupier) of a property as ...
Having two families live in a residence designed for only one family. This violates single-family residence zoning. ...
Property owned and held jointly and equally shared by each spouse. It is purchased during their marriage, regardless of the wage-earning situation of either spouse. A spouse may not make a ...
Illegally keeping or holding on to someone else's property. An example is a tenant staying in the apartment after the lease has expired. A court order may be sought to evict the tenant. ...
How much water may be retained in a unit, such as an expansion tank in a home. ...
People say time is money. The old-age cliche applies more than ever in our case as we define what the Time Value of Money (TVM) means. You’ll find the term time value for money ...
Buyer who is acting in good faith, is not aware of any outstanding claims or rights of others to the property, and has given valuable consideration as part of the business transaction. ...
Once of a set of timbers used in the construction of a building or for esthetic purpose, the land around a property for beautification. ...
An agreement in which the trustee takes title of the property ( called corpus) owned by the grantor (donor) to protect or conserve it for either the grantor or the trust's beneficiary. The ...
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