Swing Loan
"Same as term bridge loan: Short-term loan that is made in anticipation of permanent longer term loans. The interest rate on such a loan is usually higher than on longer term loans. An example is a temporary loan made to allow for a closing on the purchase of property before permanent mortgage financing; A business loan in which cash is received for a specific transaction, and repayment will be from cash flows from an identifiable source. The purpose of the loan and the source of repayment are related; hence the reference bridge loan. "
Popular Real Estate Terms
Property deriving at least 75% of the income from personal residences. ...
Funds that are retained in an account until a certain event occurs. For example, a downpayment on a contract held until full payment is received whereupon the holding funds are credited to ...
Same as term closing: legal process of transferring a piece of real estate to a buyer. Typically it occurs in the office of the lender, attorney, or an escrow company. ...
When we think of rural property or rural real estate, most of us think of farms, properties with large areas designated to agricultural land. That’s how rural communities generally ...
A right or interest in property held by a third party, which often limits the use and diminishes the value of the property, but usually does not prevent the transferring of title. The more ...
What is reconciliation in real estate? Both aspiring appraisers and wannabe real estate agents know the definition of reconciliation in real estate. In appraisal, it refers to the process ...
Commonly, a covenant refers to a legal treaty or agreement between various parties. Explicitly, a stipulation comes into existence and is signed to confine particular financial transactions ...
Process determining an individual's financial ability to meet the terms of a loan. When selling real estate, the sales broker must qualify the buyer to make certain he/ she has the ...
Any gain or loss from selling of capital assets. The gain or loss is the difference between the net selling price and cost basis. The two types of capital gains or losses for tax purposes ...
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