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
property having an easement right through another adjoining property. The property through which the easement passes is considered to have the servient tenement. ...
In real estate, the term "preamble" refers to an introductory statement that outlines the fundamental principles and goals guiding the industry's practices. Specifically, in the National ...
Dehydrated gypsum that is mixed with water to form a rapidly setting material. Plaster of paris sets too rapidly to be practical for most building applications, but it is useful for ...
When dealing with foreclosure, anti-deficiency laws can act as a life raft for many homeowners. They are state laws that come as a form of relief protecting the purchaser of residential ...
Loss of property from nonfulfillment of some duty or condition. In some cases, forfeiture is required by a court order, whereas in other cases the nonfulfillment of a contractual debt is ...
Metal hardware within the construction that is typically not visible, such as bolts, nails, and screws. ...
Person who dies leaving a will specifying the distribution of the estate. ...
Two-story house where the front door is located above the first floor but below the second floor. ...
Combination of IRC 1034 and 121 dealing with the sale of a personal residence with the once-in-a-lifetime $125,000 exclusion that may be available for the "over-55" seller. Should the ...
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