14/04: Real Estate Term of the Day
Category: General
Posted by: uscybertek
Underwriting: The decision whether to make a loan to a potential home buyer based on credit, employment, assets, and other factors and the matching of this risk to an appropriate rate and term or loan amount.
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Visit the California Real Estate Multi List
13/04: Real Estate Term of the Day
Category: General
Posted by: uscybertek
Recording Fees: Money paid to the lender for recording a home sale with the local authorities, thereby making it part of the public records.
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Visit the California Real Estate Multi List
12/04: Real Estate Term of the Day
Category: General
Posted by: uscybertek
Firm Commitment: A promise by FHA to insure a mortgage loan for a specified property and borrower. A promise from a lender to make a mortgage loan.
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Visit the California Real Estate Multi List
11/04: Real Estate Term of the Day
Category: General
Posted by: uscybertek
Realtor: A real estate broker or an associate holding active membership in a local real estate board affiliated with the National Association of Realtors.
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Visit the California Real Estate Multi List
10/04: Real Estate Term of the Day
Category: General
Posted by: uscybertek
Commitment: A promise by a lender to make a loan on specific terms or conditions to a borrower or builder. A promise by an investor to purchase mortgages from a lender with specific terms or conditions. an agreement, often inwriting, between a lender and a borrower to loan money at a future date subject to the completion of paperwork or compliance with stated conditions.
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Visit the California Real Estate Multi List
09/04: Real Estate Term of the Day
Category: General
Posted by: uscybertek
Power of Attorney: A legal document authorizing one person to act on behalf of another.
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Visit the California Real Estate Multi List
08/04: Real Estate Term of the Day
Category: General
Posted by: uscybertek
Firm Commitment: A promise by FHA to insure a mortgage loan for a specified property and borrower. A promise from a lender to make a mortgage loan.
Visit the California Real Estate Multi List
Visit the California Real Estate Multi List
07/04: Real Estate Term of the Day
Category: General
Posted by: uscybertek
Power of Attorney: A legal document authorizing one person to act on behalf of another.
Visit the California Real Estate Multi List
Visit the California Real Estate Multi List
06/04: Real Estate Term of the Day
Category: General
Posted by: uscybertek
Firm Commitment: A promise by FHA to insure a mortgage loan for a specified property and borrower. A promise from a lender to make a mortgage loan.
Visit the California Real Estate Multi List
Visit the California Real Estate Multi List
05/04: Real Estate Term of the Day
Category: General
Posted by: uscybertek
Annual Percentage Rate (APR): A measure of the cost of credit, expressed as a yearly rate. It includes interest as well as other charges. Because all lenders follow the same rules to ensure the accuracy of the annual percentage rate, it provides consumers with a good basis for comparing the cost of loans, including mortgage plans.
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Visit the California Real Estate Multi List
