What Is A Lifetime Rate Cap?

A gated community is a community of homes where you must pass through a security gate in order to enter the community. ...

A front-end ratio is a ratio of the borrowers monthly housing expenses-including principal, interest, property taxes, and insurance (OITI)-compared to the borrowers gross, pretax monthly ...

The right of a property owner to have and enjoy all of the advantages of property ownership including air right, mineral rights, riparian rights, and rights to alluvion, as well as manmade ...

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. ...

A Good Faith Estimate is when a lender must give a prospective homebuyer a written estimate of closing costs within three days of submitting a mortgage loan application. ...

A real estate agent is more than just a \"sales person.\" They act on your behalf as your agent, providing you with advice and guidance and doing a job - helping you buy or sell a home. ...

A proration is the division of certain fees. If the sellers have paid the taxes six months in advance, for example, they may want a portion of that payment back for the months you are ...

An overall debt ratio is the percentage of your overall debt (housing payments plus any other long-term debt) to your monthly gross income. Lenders use this ratio-sometimes called the ...

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 ...