Primary Mortgage Market
Mortgage market in which original loans are made by lenders. The market is made up with lenders who supply funds directly to borrowers and hold the mortgage until the debt is paid. Examples are savings and loans, commercial banks, mutual savings banks, and mortgage companies. The primary market is contrasted to the secondary mortgage market, which involves buying and selling of first mortgages by banks, insurance companies, and other mortgagees to free money for new loans.
Popular Real Estate Terms
Rights granted to owners of property restricted to conservation use, historic preservation, or some other low density function to sell to other landowners allowing them to develop their ...
Administrator of estate is a term used in common-law jurisdiction for a person assigned a particular responsibility. The administrator of estate definition describes a court-appointed ...
Divider made of plasterboard or plaster used to partition rooms. A room is created by the walls surrounding it. ...
Contracts: Awarding a contract to the bidder for the property with the best offer. Lease: To lease property to a lessee. ...
Expenditure to make a specific security or real estate transaction. Real estate transaction costs include survey costs, mortgage points and origination fees, recording fees, state transfer ...
The American Society of Appraisers, also referred to as ASA, is the largest voluntary membership, a multi-discipline trade association that stands for and promotes its appraiser members. ...
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 ...
Legal obligation to pay taxes associated with owning property or earning income. For example, a real estate owner must pay property taxes. ...
Also called financial leverage. The use of borrower funds to magnify return. Trading profitably on the equity, also called favorable financial leverage, means that the borrowed funds ...
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