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
When a real estate company switches from one accounting method to another. ...
Inverted gable roof design where the two side slope upward from the center to the eaves with a valley in the middle. The roof resembles the wings of a butterfly, hence, the name. ...
Income derived from a collection of asset investments. Real property investments produce rental and lease payment income. Investments in mortgages and other long term debt instruments ...
Room with a bathtub, shower, toilet, and sink. Most homes have more than one bathroom increasing their value. ...
market in which there are comparatively few bids to buy or offers to sell real estate. The term relates to a single investment or to a particular investment market, such as the real estate ...
The right to deviate from the use of land prescribed by an existing zoning ordinance. ...
Legal action by an owner of property to oust or exclude an individual or business form using the property. ...
Generally speaking, indemnity defines a legal principle and an ensuing agreement to calculate the amount of compensation a party is entitled to resulting from a specific financial loss they ...
Mortgage where the lender pays a borrower a fixed monthly payment based on the value of the property. It allows the borrower to receive monthly receipts against the equity in his or her ...
Have a question or comment?
We're here to help.