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
Maximum credit a prospective buyer may be given. An example is the maximum mortgage a prospective home buyer may receive from the bank. ...
Internal rate of return ignoring taxes associated with the capital invested in property. Internal rate of return considers the amount and timing of the annual cash flow from the property ...
The meaning of the term real estate dummy in the real estate market is used to refer to a person that buys a property on someone else’s behalf, most commonly in order to hide the true ...
Hallow masonry wall consisting of an inner and outer wall with dead air space between them. The air space provides increased thermal insulation. Cavity walls are not used in northern ...
Annual rate of inflation of 10% or higher. ...
Plywood whose surface is given parallel scratches or grooves in the manufacturing process. It provides, increased bond to adhesives, mortar, plaster, or stucco as well as giving a grain ...
The Real Estate Settlement Procedure Act (RESPA) is a piece of law passed by the US Congress in 1974 to protect homebuyers and home sellers against bad settlement practices. The Real ...
Clause in an open-ended mortgage permitting the mortgagor to borrow additional sums of money in the future pledging than same real property collateral. A construction loan has a future ...
Method of valuing a property through examination and comparison of recent sales of comparable properties. ...
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