What Is A Housing Ratio?
A housing ratio is the percentage of your housing payment (principal, interest, taxes, and insurance) to your monthly gross income. Lenders use this ratio to qualify you for a loan.
Popular Real Estate Questions
Popular Real Estate Glossary Terms
The abstraction method is a valuation procedure used to determine the land value relative to the total market value of the property. The abstraction approach is most often used when there ...
Tables used to compute the monthly mortgage payment that consists of principal repayment and interest. A loan amortization type of formula is used. The tables have monthly payments for any ...
Invests in rental property but does not manage that property. ...
payment of a debt before its due such as a mortgage payment or insurance premiums. ...
Nonrefundable fee to pay for the painting and cleaning of an apartment or office unit after a tenant vacates the premises. ...
Selling price for a property less assumed mortgages by the buyer. For tax purposes, the computation of the contract price is critical. ...
property that has been segregated into parts. ...
Builder who builds homes or other buildings to the specification of his customer. Normally the homes and other structures are presold. The customer builder may also build a few on ...
The definition of restraint on alienation is a limitation on the right to convey or transfer owned real estate to another party. This restriction on conveying property has an effect that ...
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