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
Created by the US Congress in 1965, the Department of Housing and Urban Development (HUD) is the agency principally responsible for federal programs relating to housing and urban ...
Survey of the maintenance requirements for a commercial or industrial rental property for the purpose of preparing a management agreement. ...
The appellant definition references a concept related to legal proceedings. The appellant is the individual who is dissatisfied with the judgment in a lawsuit and asks for a superior court ...
Written agreement between two or more parties to extend the terms of a document. ...
A notary public's guaranteeing the authenticity of a signature. ...
When you hear someone mentioning aesthetic value in connection with real estate, that person is using aesthetic value as a way to point price appreciation added to the property because of ...
A right or portion of property reserved to the grantor in a conveyance by deed. Waiver of a requirement in a lease agreement such as the landlord allowing an old tenant to have a cat or a ...
Fixed interest rate loan in which the payments are made every two weeks, but the payment is one half the amount of a regular monthly fixed-rate mortgage with the same amortization schedule. ...
In a principal gent transaction or contract where a third party knows the name of the principal the agent represents. This is a typical setting in real estate situations. In this ...
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