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
Use of a parcel of land that will produce the greatest current value. ...
To acquit, exonerate, absolve, or discredit allegations. ...
The quality of life enjoyed by a person depending on factors such as spendable income, housing conditions, health and education. ...
Initial offer to buy or sell answered with a revised offer. For example, a buyer offers $500,000 for a home put on the market. The owner rejects the offer but submits a counteroffer for ...
The definition of emblements in real estate is very simple: emblements are the crops grown on a piece of property leased to a tenant. Legally, the crops are the property of the person who ...
Defect in the tax law that either may provide a loophole to minimize the tax payment or result in higher taxes than there should be. ...
Pump installed in the sump of a building to pump out and drain any water or liquids that have accumulated. ...
Street having access only at one end and terminating with a circular turnaround area. The circular area permits automobiles to exit the street without having to use a home's driveway to ...
Individual who has a legal obligation to pay money to another. ...
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