Definition of "Lock"
The number of days that the lender guarantees the loan's rate and terms. Without a written lock-in agreement, the lender is free to change the rate and terms at the time of loan closing. A slight increase in rate is commonly charged by lenders for lock-ins.
Popular Real Estate Terms
Misuse, alteration, destruction, or neglect of land by an individual right-fully in possession that breeds a significant and permanent reduction of its value to the legal interest owned by ...
protective wall along a roof or below a terrace. ...
Rental based on a percent of sales or profit that in addition to the constant rental amount. ...
A notice, usually in writing, in which notice of termination is given by one individual or business to another. It is pursuant to a cancellation provision in a contract to forestall ...
Paneled brickwork between timber quarters, a framed wall, or partition. ...
Charges billed for services rendered. They may be on a flat basis or on an hourly rate. ...
Nineteenth-century style home architecture featuring three dimensional ornamentation, made by hand using a chisel and gouge. ...
Right of property owner to have his or her property used in satisfying a loan. Written contract of court judgment placing a lien on a parcel of property as collateral for a loan. An ...
Constructed in place by filling holes drilled through to bearing strata with concrete. ...
Have a question or comment?
We're here to help.