Definition: escrow Escrow is the monetary assistance offered by a third-party on behalf of the transacting parties.
Definition: equity Also known as real property value, equity is the amount the owner would receive after the property is... read more →
Definition: earnest Earnest, or earnest money, is an amount of money paid to confirm a contract.
Definition: deed of trust A deed of trust is a deed where a legal title in real property is transferred... read more →
Definition: credit (loan related) Credit is a contractual agreement when a borrower receives something of value now and agrees to... read more →
Definition: contingency A contingency is a provision in a real estate contact that details that the contract would cease to... read more →
Definition: construction loan A construction loan is a short-term loan which is used to finance building a home or other... read more →
Definition: closing agent A closing agent is an impartial third party who oversees the final details of a real estate... read more →
Definition: closing Closing is the final step in a real estate transaction, also known as a completion or settlement.
Definition: closing statement A closing statement is a document used in real estate transaction, which details the fees, commissions, insurance,... read more →
Definition: co-borrower A co-borrower is any additional borrow whose name will appear on loan documents and whose income and credit... read more →
Definition: cash out refinance A cash out refinance is the replacement of your first mortgage, where the interest rate is... read more →
Definition: capital gains tax Capital gains tax is the amount of money taxed on a capital gain.
Definition: capital gains Capital gains are the profits from the sale of a property or an investment.
Definition: buyer's agent A buyer's agent is a person who represents a buyer when they purchase a home.
Definition: buydown A buydown is a mortgage-financing technique where the buyer tries to obtain a lower interest rate for at least... read more →
Definition: bridge loan A bridge loan is a sum of money lent by a bank to cover an interval between... read more →
Definition: balloon mortgage A balloon mortgage is a type of mortgage where a large portion of the borrowed principal is... read more →
Definition: assumable mortgage An assumable mortgage is a type of financing arrangement in which the outstanding mortgage and its terms... read more →
Definition: assessed value Assessed value is the dollar value assigned to a property to measure taxes.
Definition: asset appreciation Appreciation is the increase in value of an asset over time.
Definition: amortized cost Amortized cost is the portion of the recorded cost of a fixed asset that has been charged... read more →
Definition: amortization Amortization is the act of paying off of debt with a fixed repayment schedule in regular installments over... read more →
Definition: refinance To refinance is to take out a new loan on different terms, often to lower your payment, shorten... read more →
Definition: fixed-rate mortgage A fixed-rate mortgage is a fully amortizing loan, whose interest rate remains that same throughout the life... read more →
Definition: ARM (adjustable rate mortgage) An adjustable-rate mortgage is a mortgage type where the interest rate that is applied on... read more →
Definition: accrued interest Accrued interest is the interest on a bond or loan that has accumulated since the principal investment.
Definition: property and casualty insurance A large umbrella term that covers many forms of insurance. Property insurance protects owners in... read more →
When selling your home, it’s hard to get the deal you want. Here are some tips that can help you negotiate... read more →
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What's an open house? Open houses are a way to bring in potential buyers to your home. There can be... read more →
What is homeowner's insurance? Homeowner’s insurance is an important part of the home buying process, and it offers a range... read more →
So, you’re getting ready to sell your home. Congrats! Let's take a dive into what curb appeal is. What is... read more →
What does a buyer’s agent do? An agent usually works with a buyer for a few weeks to several months,... read more →
A swimming pool is the epitome of summertime fun. If you’re not one of those lucky few that already has... read more →
The purchase of a home is always contingent on a home inspection. During a home inspection, a professional comes to... read more →
What's considered a starter home? A starter home is a small home or condo that you can afford now, with... read more →
Here are a few quick tips for refinancing your mortgage. Tip 1: Ensure that your credit is up to par!... read more →
Fire safety is one of the most important things to implement in your home. There are many ways to prepare... read more →
Adjustable Rate Mortgage (ARM): a type of mortgage loan whose interest rate is tied to an economic index, which fluctuates... read more →
Factors that Affect Your Credit Score A credit score is a number that represents the creditworthiness of a person and... read more →
There’s an app for everything in this day and age, and real estate is no exception. From searching for the... read more →
Home buyers looking to purchase new construction using FHA financing will have more hoops to jump through than those purchasing... read more →
Before moving, you should have a strong understanding of what the new location has to offer. Can you afford it?... read more →
A few recent college grads looking to purchase a home reached out to us with some questions. Here’s what our... read more →