What Is A Maintenance Fee?

PITI is the total monthly payment you make on a house-Principal, Interest, Taxes, and Insurance. ...

Cooperative is a form of home ownership in which you own shares in a corporation. In return for the purchase of shares, you are allowed to live in a unit in the co-op building. ...

A subdivision is a piece of land divided into several plots in which homes are built. ...

A multiple listing service is a computerized listing of the homes for sale in an area listed with a realtor. Agents are granted access to the MLS and can use it to find a house in a ...

Comprehensive is the most expensive type of homeowners insurance; it covers the most potential damages such as fire damage, water damage not caused by flooding (which would fall under your ...

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. ...

Flood insurance is insurance that compensates for the physical property damage resulting from rising water. ...

A down payment is the money you pay up front for the purchase of a 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 ...