What Is A Qualifying Ratio?

You know what is the truest answer to “who can put a lien on your house”? Yourself. We’re not trying to be smart here; it’s the truth. Failing to pay up a ...

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 ...

When you are prequalified, the lender gives you an estimate but does not formally commit to giving you a loan. ...

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 ...

What is a vlog? A video blog (shortened vlog) is a type of blog in which the message is spoken, not written, and the medium is video. It is a form of web television made popular by ...

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 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 ...

Basement remodels add more beautiful living space and are usually treated like new construction. This means that it increases your home’s assessed value and therefore an increase in ...

Bottom of a frame such as a window sill. ...

Two-story house where the front door is located above the first floor but below the second floor. ...

A generally accepted appraisal principle stating properties having similar architectural, socioeconomic occupancy, and usage characteristics maximize respective market values. In contrast, ...

A freehold equity in a n estate, restricted to the duration of the life of the grantee or other stipulated individual. ...

An amount of money provided for in a contract as compensation if the contract is not fulfilled. An example is an offer to buy real property that includes a provision that once the seller ...

Are you planning on buying a house? If you are, you’re going to love the Buyer's Market definition. But if you are a home seller, you will wish that term never comes up again in your ...

Permission to do something that differs from the basic zoning requirement. An example is a homeowner receiving special authorization to build a two-family house in a single family zoned ...

Monies set aside in the event unexpected repairs are needed to a building or apartment. It may be in the form of an escrow account in which the seller of the property puts funds away if ...