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
Uncertainty in the price of real estate due to market, economic, political or other conditions. ...
Money payments to be delayed for a future date or extended over a period of time. ...
Expected selling price of property less costs to sell. It is the net amount received upon the sale of property. gross receivables less allowance for doubtful accounts, representing the ...
Recurring obligation or assurance given. ...
Methods of owning real estate. Ownership form has important consequences for income tax, estate tax, corporate income tax, and survivorship. Real estate may be owned by one or more persons. ...
A tender has several meanings in everyday discourse. Most generally, tender means a formal offer designed for acceptance with the anticipation of soliciting a response in return. Bidding ...
Individual: Adjusted gross income less itemized deductions and personal exemptions. After taxable income is computed, the tax to be paid can be determined by looking at the tax rate ...
Distance from the location of natural ground and water to the actual ground level. ...
Legal obligation to pay taxes associated with owning property or earning income. For example, a real estate owner must pay property taxes. ...
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