What Is A Rate Lock?
Definition of "What is a rate lock?"
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.
Popular Real Estate Questions
Popular Real Estate Glossary Terms
In a mortgage, a provision that allows part of the security to be released from any further lien obligations upon the borrower's making a given payment. For example, a person may get a ...
Linear measurement of property abutting a road or water body acting as a boundary market. ...
Same as term soil porosity: Extent to which soil has cavities or pores, thereby allowing water to pass through. ...
Unfortunately, we encounter false advertising daily. False advertising refers to deceptive or misleading ads and commercials that fail to showcase a product’s or service’s ...
Details of a contract of sale including a financial statement, legal description, type of deed, place, date and time of closing of title. ...
As a legal term, abandonment defines a deliberate renunciation of rights to an asset or a business relationship. What does abandonment mean in real estate? In real estate, abandonment, ...
The prepared form used to specify the terms of the listing contract. Usually a listing form consists of blanks the real estate agent fills in to provide the necessary information needed to ...
Method of selling and obtains possession, but the seller retains the title. ...
(1) Method of measurement lumber using the board foot cubic measure. The board measure is used to estimate quantities and prices of lumber materials. (2) Method of estimating lumber ...
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