What Are Prepayment Penalties?

A housing ratio is the percentage of your housing payment (principal, interest, taxes, and insurance) to your monthly gross income. Lenders use this ratio to qualify you for a loan. ...

A type of financing in which a developer or seller arranges for the buyer to get a loan at a rate below the current market rate. The developer or seller pays interest costs in order to ...

Recently sold properties that are similar in size, location, and amenities to the home for sale. These properties help an appraiser determine the fair market value of a property. ...

A commitment letter is a formal offer of a loan by a lender. The letter states the terms under which the lender has agreed to the loan. ...

A penalty fee charged for paying off a mortgage early, thus allowing banks to still make money off of the loan in the event that you inherit a small fortune. Most loans these days do not ...

Not only can homeowners associations impose pet restrictions but almost 100% of them do. Here’s the thing: the job of a homeowners associations or HOA is to look at the big ...

A condominium is a form of home ownership in which the owner owns the airspace within the walls but doesn't own the actual walls, ceilings, or floors of the home. ...

You know what is the truest answer to “who can put a lien on your house”? Yourself. We’re not trying to be smart here; it’s the truth. Failing to pay up a ...

Description of an area that is located at the outskirts of a city composed primarily of residential units. The city frequently provides employment, cultural activities, and other support ...

Person or business susceptible to loss on an investment, such as a high-risk speculation ...

Any commercially fabricated and widely available product designed for household and personal use. Consumer goods are available in an open market place and are competitively priced. ...

Insurance coverage to pay the balance of the mortgage if the wage earner dies. ...

Home inspector is the name the real estate industry calls the professional responsible for the close and thorough examination of a property. The home inspector usually is called upon ...

Structure of prefabricated units. ...

Alleged to be real or genuine. What appears to be such as a real estate agent's seeming authority to act on behalf of a principal. However, the agent may not in fact have real ...

Cancellation of a contract such as when a real estate agreement is deemed illegal. ...