Mortgage Market
The interest rate and terms competing mortgage lenders are offering to potential mortgagees. The mortgage market is competitive on the basis of mortgage interest rates, points, credit history requirements, and closing costs. For example, in order for John to obtain a mortgage to finance a home purchase, he compared the interest rates, points charged, need for a credit check and closing costs. He finally settled on a lender whose rate 1/4% lower than the competition, charged fewer points, did not require a credit check and was extremely competitive on closing costs. The bank also guaranteed an interest rate lock-in clause until the day of the closing.
Popular Real Estate Terms
British thermal unit-a unit of energy associated with the creation of heat. Prior to 1929, it was defined as the amount of heat required to raised the temperature of 1 pound of water 1 ...
Method of construction where vertical siding is attached to a horizontal framing structure. Often found in the design of agricultural buildings. ...
The definition of a property brief is a document including the summarization of the attributes and characteristics of the property. Officially issued legal records are supposed to include ...
Study of real estate activities including demand, price, location influence, and current trends. ...
A method of brick construction where the bricks are laid with their sides facing outward. ...
A developer is a person that designs or creates something that could be a concept, structure, product or service. An idea can be turned into something real, tangible and the person that ...
Act of postponing a closing for another day or place. Adjournments of closing can occur for a variety of reasons including the lack of an appropriate closing statement, one or more parties ...
Market analysis method where sales of similar properties in proximity neighborhoods are compared. The comparable sales methodology is extremely useful if the properties being compared are ...
Property deed in which the grantor limits the title warranty to the grantee. A grantor does not warrant a title defect to the property occurring from a happening before the time of his ...
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