Cost Of Development

Significant elevation of land. Narrow upward strip. Connection of edges between different sloping surfaces. ...

Stature regulating the use of credit information. Allows consumers such as prospective homeowners access to their credit files. It requires a lender to explain how loan interest is ...

The amount of inherent risk for a mortgage in granting a mortgage. An operating principle in mortgage risk rating is that the mortgage cannot exceed 2.5 times the mortgagor's annual income, ...

Transfer of the title of land, real estate, or personal property from one person or entity to another. This transfer is typically made via a trust deed, mortgage, sales contract or similar ...

Room containing a toilet and wash basin, but does not include a shower or bath tub. ...

Interest a person pays before it is actually incurred. An example is a one year's interest that a borrower agrees to pay in advance to a bank on a mortgage. This rarely occurs. ...

Also called a will. Describes the disposition of property. ...

Half oval window. It is usually small and placed over a doorway serving a decorative purpose. In some case, the window may be mounted with a hinge at either end to a permit opening for ...

Yes and no.The yes part of the answer is pretty standard; we’ve been covering it in the many many articles we put out on our real estate advice and tips page exposing the ...

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 of time. ...

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. ...

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 ...

Discount points are a type of point paid by the borrower to reduce the interest rate. ...

A lifetime rate cap is an adjustable-rate mortgage (ARM), this cap limits the amount the interest rate can increase or decrease over the life of a loan. ...

An overall debt ratio is the percentage of your overall debt (housing payments plus any other long-term debt) to your monthly gross income. Lenders use this ratio-sometimes called the ...

A qualifying ratio is the percentages a lender compares to see whether you qualify for a loan. ...