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
Transfer of personal property via a will as a gift to the recipient. ...
Using beams on an interim basis while a structure is being built. Reinforcing a building with supports. A property. ...
When we talk about acceptance in the real estate world, we have to talk about an offer that is accepted. The definition of acceptance implies the existence of an offer that we can accept or ...
Tenant agrees to a replacement landlord. ...
An individual for whom a court has awarded a financial judgment against a debtor. For example, a court award makes Smith a judgment creditor against Cole for $2,000. ...
The Debt-to-Income Ratio’s (DTI) definition is a measure that allows one to compare the ability an individual has to afford a monthly debt payment out of their monthly gross income. ...
Restraining a person or business from denying an appropriate conveyance of property evidenced by a deed has given. ...
Having an interest in property for the duration of one's life after which the title reverts to another party. ...
Street terminating at one end with only one outlet. A dead end street is not a through street. See also cul de sac. ...
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