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
As a suburban nation with the majority of Americans living in the suburbs, the actual classification of suburbs had long been expected. Still, recently, three academic approaches for ...
Legal action of a landlord to remove a tenant.The tenant may have violated the lease agreement such as for the tenant's failure to pay the rent. ...
Balcony or low ceiling overhang just above the main floor and between the next story. In a theater, a mezzanine is the first balcony above the stage. ...
The definition of emblements in real estate is very simple: emblements are the crops grown on a piece of property leased to a tenant. Legally, the crops are the property of the person who ...
Form used to record information about a credit applicant's ability to meet his obligations in connection with a real estate purchase. ...
The angle of a roof in relation to its horizontal axis expressed as a ratio of inches (cmm) per foot of horizontal distance. The sloping of ground, such as sloping ground away from the ...
The definition of the term “demise” covers more spectrums than just real estate related. Most commonly the term demise is used to talk about someone’s death. It is also ...
Decision rendered by a court of law. ...
A home seller and a home buyer agreed upon a fair market value and the deal is off to closing the sale. One of the next steps is running a title search. But what is a title ...
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