Life Of Loan Cap
An upper limit on the interest rate that can be charged in a variable rate mortgage over its life. For example, a variable rate loan is initially offered at 7% loan rate, and its interest rates can be adjusted every three months up to a loan cap of 11%, or 400 basis points.
Popular Real Estate Terms
(1) Housing arrangement in which the tenants are shareholders in a company that owns and maintains the structure. (2) Agreement between two real estate brokers in which the commission will ...
Individual to whom a mortgage, or property, is pledged. ...
Right of any government agency to enact and enforce certain regulations to provide for the health and safety and general welfare of the public. ...
Also known as SIOR, the Society of Industrial and Office REALTORS® is a professional commercial and industrial real estate association that works on an international level. In the US, ...
ADU in real estate is an abbreviation for Accessory Dwelling Units. In everyday discourse, you might have encountered the term under the following nicknames: granny flat, backyard cottage, ...
Mortgage for an extended time period (e.g., 25 years) Type of real estate investment trust (REIT) that gives long-term mortgages to real estate developers and contractors on new or ...
The term collusion may make you think about colluding from the start, and you wouldn’t be far from the truth. The definition of collusion is a secret, non-competitive, and, at times, ...
A report published by a governmental unit which is publicly available. For example, the decennial census report published by the U.S. Department of Commerce is a public report. ...
The period when a financial debt, such as a mortgage, must paid. ...
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