What Is A Commitment Letter?

A default is when a person fails to make payments on a loan. ...

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 term is the length of a loan. ...

A gift letter is when an individual gives you money for a down payment as a gift, that person must write you a gift letter so that it can be included in your loan documentation. ...

An opinion of a properties fair market value, based on an appraisers inspection and analysis of the property. ...

When a property depreciates it declines in the value of the property due to poor location, dilapidation, or other factors. ...

The process of paying off a loan balance. As you make payments, a certain amount is applied to the principal and a certain amount to the interest. ...

Basic points relates to changes in the interest rate for your home. ...

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 ...