What Does A Back-end Ratio Mean?

The process of finalizing all the dealing associated with the sale and purchase of a home. (Also known as a settlement) ...

When you are preapproved, you have a definite commitment from a lender ...

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 REALTOR® is an agent or agency that belongs to the local or state board of REALTORS® and is affiliated with the "National Association of REALTORS® (NAR). They follow a strict code of ...

A counteroffer is an offer made by one party that makes changes to the original or latest offer of the other party. ...

Depreciation is a decline in the value of property due to general wear and tear, or is also known as an annual allowance that helps you recover on your taxes the cost of the property. ...

A loan origination fee is a fee charged by the lender-usually 1 percent of the loan amount. ...

A debt-to-income ratio is the percentage of a persons monthly earnings used to pay off all debt obligations. ...

A saving bank owned by its depositors. They are mostly located in the northwestern United States and are an important supplier of real estate financing. All mutual savings banks are state ...

Any person, company, or legal entity who signs a check or note to borrow money. By signing a payment instrument, the maker assumes full financial responsibility. For example, John is the ...

Term used in the real estate industry describing the price requested by a property owner vs. the price a buyer is willing to pay. Bid is the highest price a purchaser is willing to pay ...

Short-term leases are leases that run its completion in a faster time than regular ones.In real estate, short term-leases usually refer to temporary housing; that is: rent.The length of a ...

The proportionate division of expenses including taxes, interest, insurance, rents, and other property-related expenses at a closing between the buyer and the seller. ...

Schedule showing the breakdown of each loan payment that consists partly of interest and partly of principal. ...

Is a stockholder-owned corporation known as Freddie Mac. Freddie Mac purchases investment-quality mortgage from lenders and packages from lenders and packages them as securities which are ...

Reduction in the normal rental charge to attract prospective tenants or keep existing tenants at lease renewal. Discounts may be given to obtain a higher occupancy rate, make it easier of ...