Mortgage Market
The interest rate and terms competing mortgage lenders are offering to potential mortgagees. The mortgage market is competitive on the basis of mortgage interest rates, points, credit history requirements, and closing costs. For example, in order for John to obtain a mortgage to finance a home purchase, he compared the interest rates, points charged, need for a credit check and closing costs. He finally settled on a lender whose rate 1/4% lower than the competition, charged fewer points, did not require a credit check and was extremely competitive on closing costs. The bank also guaranteed an interest rate lock-in clause until the day of the closing.
Popular Real Estate Terms
A line on a map or drawing showing equal ground elevation points. See also contour map. ...
When we think of rural property or rural real estate, most of us think of farms, properties with large areas designated to agricultural land. That’s how rural communities generally ...
A deed in which two or more people in an indenture agreement have reciprocity and obligations toward each other. ...
Recording an expenditure having a benefit of more than one year to the cost of the property. ...
Gradual deterioration of land due to nature such as because of floods, hurricanes and storms. Gradual decline in the value of real estate because of poor market and economic conditions. ...
A court order issued to a defendant in an action either prohibiting or commanding the performance of a defined act. A violation of an injunction could lead to a contempt of court citation. ...
An insurer who researches the title to real estate for the purpose of discovering any unknown liens or encumbrances on the property that may have come into effect before the current ...
Fan with an opening to the outside air that lets stale or hot air exit the structure; usually used in a kitchen when cooking or in a bathroom that does not have a window. It is used for ...
An opening with a hinged cover allowing access from one level to another in a structure. Often installed in a roof or the floor of a building to allow the entrance of people and materials ...
Have a question or comment?
We're here to help.