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
Sewer whose sole purpose is o carry away domestic waste water. ...
In short, an overage means a surplus or an excess of money. An overage can present itself at a property at an auction where the asset has gone over the asking price. Suppose there’s a ...
Roof constructed on a storage tank designed to expand and contract directly with the level of stored materials (usually liquid). Its design prevents the loss through vaporization of the ...
Largest form of owner ship giving the owner complete control including the development off an inheritable estate. ...
In taxation, the excess of total long-term gains minus total long-term losses on the sale of real estate. Long-term classification is for real estate held one year or more. This is reported ...
Leasing commercial or industrial real estate can be a perplexing process. As a tenant (and as a landlord,) you must consider several aspects before actually signing the deal. Even top local ...
Ownership of property transfers from the seller to the buyer when the parties sign the contract. ...
The smallest lot area required for building under the municipal zoning code. For example, a municipal zoning code requires all building lots to have a minimum lot area of 1/4 of an acre in ...
Fee charged by a mortgage lender to a buyer, seller or both for transferring a mortgage when the mortgage property is sold. ...
Have a question or comment?
We're here to help.