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REAL ESTATE DICTIONARY, GLOSSARY, TERMS & DEFINITIONS

  Real Estate Dictionary & Terms
 
  #
1st trust deed
1st time buyer
2nd trust deed

A
acceleration clause

adjustable-rate mortgage (ARM)
adjustment date
affiliate agent
agreement of Sale
amortization
amortization schedule
annual percentage rate (APR)
application
appraisal
appraised value
appraiser
appreciation
assessed value
assessment
assessor
asset
assignment
assumable mortgage
assumption

B
balanced Market
balloon mortgage
balloon payment
bankruptcy
bill of sale
biweekly mortgage
bond market
bridge loan
broker
buydown
buyer's agent
buyer's market

C
calHFA
call option
cap
cash-out refinance
certificate of deposit
certificate of deposit index
certificate of eligibility
certificate of reasonable value (CRV)
chain of title
clear title
close of escrow
closing
closing costs
closing statement
cloud on title
co-borrower
collateral
collection
commission
common area assessments
common areas
common law
community property
community reinvestment Act (CRA)
comparable sales
condemnation
condominium
condominium conversion
condominium hotel
conforming loan
construction loan
contingency
contract
contractor
conventional mortgage
convertible ARM
cooperative (co-op)
cost of funds index (COFI)
credit
credit history
creditor
credit report
credit repository
credit score

D
debt
deed
deed-in-lieu
deed of trust
default
delinquency
deposit
depreciation
discount listing
discount points
down payment
down payment assistance
dual agency
due-on-sale provision

E
earnest money deposit

easement right
effective age
effective payment
eminent domain
encroachment
encumbrance
equal credit opportunity act (ECOA)
equity
escrow
escrow account
escrow analysis
escrow disbursements
estate
eviction
examination of title
exclusive listing
executor
F
fair credit reporting act
fair market value
fannie mae (FNMA)
fannie mae's community home buyer's program
federal housing administration (FHA)
fhlmc
fee simple
fee simple estate
FHA mortgage
financing 100%
firm commitment
first mortgage
fixed-rate mortgage
fixture
flat fee listing
flood insurance
foreclosure
FSBO (FSBO or Fisbo)
full service listing

G
government loan (mortgage)
government National Mortgage Association
government programs
grantee
grantor
grants

H
hazard insurance
home equity conversion mortgage (HECM)
home equity line of credit
home inspection
homeowners' association
home owner’s dues
homeowner's insurance
homeowner's warranty
HUD median income
HUD-1 settlement statement

I
interest only loans

J
joint tenancy
judgment
judicial foreclosure
jumbo loan

L
late charge
lease
leasehold estate
lease option
legal description
lender
lender programs
liabilities
liability insurance
lien
life cap
line of credit
liquid asset
listing agent
loan
loan officer
loan origination
loan servicing
loan-to-value (LTV)
lock Box
lock-in
lock-in period
low Income borrower

M
margin
maturity
merged credit report
MLS
modification
mortgage
mortgage banker
mortgage broker
mortgagee
mortgage insurance (MI)
mortgage insurance premium (MIP)
mortgage life and disability insurance
mortgagor
multidwelling units

N
negative amortization
no cash-out refinance
no-cost loan
note
note rate
notice of default

O
original principal balance
origination fee
owner financing

P
partial payment
payment change date
periodic payment cap
periodic rate cap
personal property
PITI
PITI reserves
planned unit development (PUD)
plat
point
power of attorney
pre-approval
prepayment
prepayment penalty
pre-qualification
prime rate
principal
principal balance
principal, interest, taxes, and insurance (PITI)
private mortgage insurance (MI)
promissory note
property taxes
public auction
PUD (Planned Unit Development)
purchase agreement
purchase money transaction

Q
qualifying ratios
quitclaim deed

R
rate lock
real estate agent
real estate settlement procedures act (RESPA)
real property
Realtor®
recorder
recording
refinance transaction
remaining balance
remaining term
rent loss insurance
repayment plan
replacement reserve fund
revolving debt
right of first refusal
right of ingress or egress
right of survivorship

S
sale-leaseback
second mortgage
secondary market
security
seller carry-back
seller’s agent
seller’s market
servicer
servicing
settlement statement
showing state
silent second
subdivision
subordinate financing
survey
sweat equity

T
tax deduction
tax savings
tenancy in common
third-party origination
title
title company
title insurance
title search
transfer of ownership
transfer tax
treasury index
trust deed
truth-in-lending
two-step mortgage
two- to four-family property
trustee

V
VA mortgage
vested
veterans administration (VA)

W
wholesale lender

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The information in www.lasvegas-commercial.com has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. The value of this transaction to you depends on tax, financial and legal advisors who should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.