Cost Of Funds Index
Definition of "Cost of funds index"
Average of what savings institutions in the 11th district of the Federal Home Loan Bank System ( California, Arizona, and Nevada) are paying in interest to depositors and other sources of borrowed money. The index was developed in 1981 to provide a benchmark for adjustable rate mortgages. Currently, about 10 percent of the nation's mortgages are tied to the index. When the index rides, so do interest rates on millions of home mortgages.
Popular Real Estate Terms
Predetermined price for a contract that will be the same irrespective of the actual costs incurred to complete it. This contract is advantageous to the buyer because he knows beforehand ...
Also called earnest money. Money deposited with an individual for security for the performance so some contract. This is intended to show his/her willingness to follow through with the ...
The definition of property acquisition cost in real estate is the total recorded cost of a piece of real estate after reductions in price, incentives, closing costs and any other ...
Stated rate of interest on the face amount of a loan or installment note. ...
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Process determining an individual's financial ability to meet the terms of a loan. When selling real estate, the sales broker must qualify the buyer to make certain he/ she has the ...
Thin wood that is shaped in a wedge and laid together in rows. An example is a roof on a house. ...
Generally, a statute of frauds means a legal provision outlining that essential contracts, vulnerable to misrepresentation, must be fixed in a written form to be enforceable. Although ...
Percentage of a geographic location's population to the number of persons employable by a basic industry in that area. A basic industry is one that draws income from outside the locality ...
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