What Is A Proration?

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 rate lock is a commitment issued by a lender to a homebuyer or to the mortgage broker guaranteeing a specific interest rate for a specified amount of time. ...

A borrowers other debts, such as auto loans and credit cards, figured into the debt-to-income ratio. ...

An APR stands for an ANNUAL PERCENTAGE RATE. This rate includes the costs of any points paid, mortgage insurance, and other costs. ...

An easement is the right given by the landowner to use the property. ...

A survey is an examination of a property\'s boundaries to determine the quantity of land, location of improvements, and other information. Usually the surveyor includes a map or drawing of ...

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

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. ...

English architecture. This style has two levels with the second level typically overlaying the first story. The roof is high and the chimney is sculptured. ...

(1) Surrendering voluntarily or involuntarily ownership of property or an interest therein. (2) Court order to give up possession or the right to property such as in the case of an ...

Founded in 1908 and located in Washington, DC, BOMA has 7,500 members and 10 regional groups and 6 state groups. It consists of managers, owners, investors, and developers of commercial ...

Surveyor's use of hypothetical lines to portray a properties position. North to South in the meridian line while East to West is the base line. ...

(1) Revising the selling price of real property to reflect what it would be worth if typical financing was available. (2) How much real property would be sold for if all cash was involved. ...

Listing of all of the plats of subdivided plots in a jurisdiction showing the location, boundaries, and plat owners. A plat book normally shows other improvements including roads, blocks, ...

Lack of supply of real property. When demand exceeds supply, price of the property goes up. For example, if there are only a few homes in a town that everyone desires to reside in, the ...

Property highly leveraged. An example is when a landlord buys an apartment house paying minimum cash payment down and the balance on mortgage. ...