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
Significant information that if disclosed would affect an individual's decision. For example, a buyer would probably not enter into a contract with a seller of real property if it was known ...
A written contract of a group of property owners, typically condominium owners, describing their joint ownership obligations and rights. The association agreement usually allows members to ...
Raw land in its natural condition which has in no way been improved. ...
As a suburban nation with the majority of Americans living in the suburbs, the actual classification of suburbs had long been expected. Still, recently, three academic approaches for ...
The down payment on the price of a real estate. For example, it is customary to make a down payment of 10% of the value of a real estate parcel upon signing the purchase agreement. ...
Just to be clear: an Open house is not when you invite friends over to meet your new house. At least not in the real estate world.When you hear someone talking about an Open House, they ...
The government under emminent domain takes Way to determine how much to pay an owner whose property before-and-after method. ...
The concept of a release can define various meanings in the financial and real estate business. Typically, it establishes a discharge or literal escape from a loan borrower's economic ...
The tenant is forced to leave the premises if he complains about the poor condition of the apartment or office space he has leased. This type of eviction is illegal in many states. ...
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