Mortgage Risk Rating
The amount of inherent risk for a mortgage in granting a mortgage. An operating principle in mortgage risk rating is that the mortgage cannot exceed 2.5 times the mortgagor's annual income, only a maximum of 28% of the mortgagee's salary can be devoted to the mortgage payment, and total debt payments including the mortgage payment cannot exceed the mortgagee's salary by 33%.
Popular Real Estate Terms
Two or more authorized brokers who agree to cooperate together representing a principal for the completion of a real property sale. ...
In an electrical system, the connection box where all the circuit systems are installed with a series of electrical breakers. The major distribution or collection duct in an ...
Second home. The interest and real estate taxes on the second home are tax deductible on the family's 1040 tax return. ...
A rental agreement is a written contract that establishes a temporary arrangement between the owner of a property and an individual who wishes to have possession of the property for a ...
Association of the owners of all condominium units in a building that is concerned with managing day-to-day matters in the building complex, including the surrounding and enforcing ...
Unimproved property. It has no utilities, sewers, streets, or structures and usually must be cleared. ...
The word ““doc”” is an abbreviation for a document. Typically, a doc defines any recorded materials, including letters, photographs, inscriptions, text, reproducible ...
Favorable occurrence providing a good chance for success, usually in financial terms. ...
Beam, girder, or truss with the top portion being in the shape of a bow and the bottom portion being straight across and connecting both ends of the top portion. ...
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