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
An accounting methodology for separately depreciating individual parts or elements of a building or improvement qualifying as business use or a depreciable asset under the IRS tax code. ...
Property taken over by the government because the owner has failed to pay taxes on it. The property may revert back to the owner when the taxes are paid. If not, the government may sell the ...
Neighborhood square somewhat resembling a park. It is often owned by town or row house owners situated near the square. ...
Covering studs on the outside. ...
(1) The exposed trim and molding surrounding a door or window. (2) Woodwork which encases a pipe or structural member. (3) Method of creating a form for the pouring of concrete. ...
percentage of land that may be used productively to the total square footage of the land. For example, if total square footage is 40,000 but only 30,000 square feet may be built upon ...
Same as term access right: The right of a property owner to freely go to and return from an adjoining highway without interference." rollover;"Same as term: Tax-free exchange that allows ...
The maximum pre-approved amount that an individual or business can borrow without preparing a new credit request. It is a safety buffer in the event funds are needed for unexpected ...
Every borrower has his own definition of amortization schedule in mind. An amortization schedule is a table that reveals how the debt is going to be paid back and at what cost. For most ...
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