Real Estate Glossary
This real estate glossary is set up as a set of A-Z links at the top of the page followed by real estate terms in alphabetical order. Once you select a term, the definition will be displayed on a separate page. You can return to the terms at anytime by selecting from the A-Z links.
4
a
- Acceptance
- Additional principal payment
- Adjustable rate
- Adjustable rate mortgage (ARM)
- Adjusted basis
- Adjustment date
- Adjustment period
- Affordability analysis
- Amenity
- Amortization
- Amortization schedule
- Amortization term
- Amortize
- An intention to sell
- Annual mortgagor statement
- Annual percentage rate (APR)
- Annuity
- Answer
- Application
- Application fee
- Application for an order of appraisal
- Appraisal
- Appraisal fee
- Appraised value
- Appraiser
- Appreciation
- Assent
- Assessed value
- Assessment
- Assessor
- Asset
- Assignment
- Assumable mortgage
- Assumption
- Assumption clause
- Assumption fee
- Attorney
- Attorney's fees
- Attorney-in-fact
- Auditor of the county
- Automatic stay
b
- Balance sheet
- Balloon mortgage
- Balloon payment
- Bankrupt
- Bankruptcy
- Basis
- Beneficiary
- Betterment
- Bi-weekly payment mortgage
- Bill of sale
- Binder
- Blanket insurance policy
- Bona fide
- Bond
- Breach
- Bridge loan
- Broker
- Budget
- Budget category
- Building code
- Buydown account
- Buydown mortgage
- Buyer's attorney's fees
c
- Call option
- Cap
- Capital
- Capital expenditure
- Capital gains tax
- Capital improvement
- Cash reserves
- Cash-out refinance
- Certificate of Eligibility
- Certificate of deposit (CD)
- Certificate of deposit index
- Certificate of title
- Certified mail notice
- Chain of title
- Change frequency
- Circuit Court
- Clear title
- Closing
- Closing agent
- Closing costs
- Closing statement
- Co-borrower
- Coinsurance clause
- Collateral
- Collection
- Commission
- Commitment letter
- Commitment period
- Common area assessments
- Common areas
- Community property
- Comparables
- Compound interest
- Concessions
- Condemnation
- Conditions
- Condominium
- Condominium conversion
- Confession of judgment
- Confirmation
- Conforming loan
- Consent foreclosure
- Construction loan
- Consumer reporting agency (or bureau)
- Contingency
- Contract
- Contract of sale
- Conventional mortgage/conventional loan
- Convertibility clause
- Convertible ARM
- Cooperative (Co-op)
- Cooperative corporation
- Cooperative mortgages
- Cooperative project
- Corporate relocation
- Cost of funds index (COFI)
- County court
- Court of common pleas
- Covenant
- Credit
- Credit Disability Insurance
- Credit bureau
- Credit history
- Credit life insurance
- Credit report
- Credit report fee
- Creditor
d
- Debt
- Debt-to-income ratio
- Deed
- Deed in lieu of foreclosure
- Deed of trust
- Deed to secure debt
- Deed under power of sale
- Default
- Defendant
- Defense
- Deficiency
- Deficiency judgment
- Department of Veterans Affairs (VA)
- Deposit
- Depreciation
- Discount points
- District court
- Document preparation fees
- Down payment
- Due-on-sale provision
- Due-on-transfer provision
e
- Earnest money deposit
- Easement
- Effective age
- Effective gross income
- Effective percentage rate (EPR)
- Election to foreclose
- Emergency reserves
- Eminent domain
- Encroachment
- Encumbrance
- Endorser
- Equal Credit Opportunity Act (ECOA)
- Equity
- Escrow
- Escrow account
- Escrow analysis
- Escrow collections
- Escrow disbursements
- Escrow payment
- Estate
- Eviction
- Examination of title
- Exclusive listing
- Executory process
f
- F.S.
- FHA coinsured mortgage
- FHA mortgage
- Fair Credit Reporting Act
- Fair market value
- Fannie Mae
- Federal Housing Administration (FHA)
- Fee simple
- Fee simple estate
- Finder's fee
- First mortgage
- Fixed installment
- Fixed-rate mortgage (FRM)
- Fixture
- Float
- Flood insurance
- Foreclosure
- Foreclosure Unit
- Foreclosure by advertisement
- Foreclosure by entry or action
- Foreclosure by sale
- Foreclosure complaint
- Forfeiture
- Freddie Mac
- Fully amortized ARM
g
- Good faith estimate (GFE)
- Government National Mortgage Association (GNMA)
- Government mortgage
- Grantee
- Grantor
- Gross income
- Guaranteed loan
- Guaranty
h
- HUD median income
- HUD-1 statement
- Hazard insurance
- Home Equity Conversion Mortgage (HECM)
- Home equity line of credit
- Home inspection
- Homeowner's insurance
- Homeowner's warranty (HOW)
- Homeowners' association (HOA)
- Homeowners' association dues
- Housing expense ratio
i
- Impound account
- Income property
- Index
- Inflation
- Initial interest rate
- Inspection fees
- Installment
- Installment loan
- Insurable title
- Insurance
- Insurance binder
- Insured mortgage
- Intent to cure
- Intent to redeem
- Interest
- Interest accrual rate
- Interest rate
- Interest rate buydown plan
- Interest rate ceiling
- Interest rate floor
- Interim interest
- Investment property
j
l
- Land survey
- Late charge
- Law day
- Lease
- Lease-purchase mortgage loan
- Leasehold estate
- Legal description
- Lender
- Lender's attorney
- Lender's attorney's fees
- Liabilities
- Liability insurance
- Lien
- Lien theory
- Lifetime payment cap
- Lifetime rate cap
- Line of credit
- Liquid asset
- Lis Pendens
- Listing Agent
- Loan
- Loan application
- Loan application fee
- Loan closing
- Loan commitment
- Loan flipping
- Loan origination
- Loan program
- Loan settlement
- Loan-to-value (LTV) percentage
- Lock-in
- Lock-in period
m
- Margin
- Master association
- Maturity
- Merged credit report
- Modification
- Monthly fixed installment
- Monthly payment mortgage
- Mortgage
- Mortgage banker
- Mortgage broker
- Mortgage insurance (MI)
- Mortgage insurance premium (MIP)
- Mortgage life insurance
- Mortgage loan
- Mortgage origination fee
- Mortgage payment
- Mortgagee
- Mortgagees' deed
- Mortgagor
- Multidwelling units
n
- Nebraska Trust Deeds Act
- Negative amortization
- Net cash flow
- Net worth
- Non-judicial
- Non-judicial foreclosure
- Non-occupant co-borrower
- Nonliquid asset
- Note rate
- Note/bond
- Notice of Default
- Notice of Default and Notice of Sale
- Notice of Foreclosure Sale (Final Judgment of foreclosure)
- Notice of Intention to Foreclose
- Notice of Intention to Foreclosure by power of sale
- Notice of Sale
- Notice of Trustee
- Notice of Trustee Sale
o
- Offer to purchase
- Office of Public Trustee
- One-action rule
- One-price bids
- Ordinary process
- Original principal balance
- Origination fee
- Origination points
- Owner financing
p
- PITI
- PITI reserves
- PMI
- PUD
- Partial payment
- Payment change date
- Periodic payment cap
- Periodic rate cap
- Personal property
- Petition for Foreclosure
- Planned unit development (PUD)
- Point
- Post-foreclosure sale statutory right of redemption
- Power of attorney
- Power of sale
- Power of sale clause
- Power of sale language
- Pre-approval
- Pre-qualification
- Prearranged refinancing agreement
- Predatory lending
- Preforeclosure
- Prepaid escrow
- Prepaid interest
- Prepayment
- Prepayment penalty
- Price
- Prime rate
- Principal
- Principal balance
- Principal, interest, taxes, and insurance (PITI)
- Private mortgage insurance (PMI)
- Programs
- Promissory note
- Property taxes
- Prothonotary
- Public foreclosure auction sale (public auction)
- Public trustee
- Public trustees office
- Punch list
- Purchase and sale agreement/purchase contract
- Purchase money mortgage
- Purchase money transaction
q
r
- Radon
- Rate lock
- Rate-improvement mortgage
- Real Estate Owned (REO)
- Real Estate Settlement Procedures Act (RESPA)
- Real estate agent/broker
- Real property
- Realtor®
- Recorder
- Recording
- Redemption period
- Refinance transaction
- Rehabilitation mortgage
- Release fees
- Remaining balance
- Remaining term
- Rent with option to buy
- Repayment plan
- Replacement reserve fund
- Rescission
- Reserves
- Residential trust property
- Reverse mortgage
- Revolving liability
- Right of first refusal
- Right of ingress or egress
- Right of redemption
- Right of survivorship
s
- Sale of trust property by public auction
- Sale-leaseback
- Scire facias
- Second mortgage
- Secondary mortgage market
- Secured loan
- Security
- Security agreement
- Security deed
- Seller take-back
- Selling agent
- Servicer
- Servicing
- Settlement
- Settlement agent
- Settlement costs
- Settlement statement
- Sheriff
- Small Tract Financing Act of Montana
- Special deposit account
- Standard payment calculation
- Statutory right of redemption
- Step-rate mortgage
- Strict foreclosure
- Subdivision
- Subordinate financing
- Subprime lending
- Subsidized second mortgage
- Superior Court
- Supreme Court
- Survey
- Sweat equity
t
- Tax deduction
- Tax lien
- Tenancy by the entirety
- Tenancy in common
- Tenant-stockholder
- Term
- Terms
- Third-party origination
- Title
- Title company
- Title insurance
- Title report
- Title search
- Title theory
- Total expense ratio
- Trade equity
- Transfer of ownership
- Transfer tax
- Treasury index
- Trust indenture
- Trust mortgage
- Trust property
- Trustee
- Trustee's deed
- Truth-in-Lending Act (TILA)
- Two-step mortgage
- Two-to-four-family property
