Category Archives: Real Estate Terms

Residential Real Estate Terms and Definition Series: Federal Housing Administration (FHA)

Federal Housing Administration (FHA): an agency of the U.S. Department of Housing and Urban Development (HUD). Its main activity is the insuring of residential mortgage loans made by private lenders. The FHA sets standards for construction and underwriting but does not lend money or plan or construct housing.   To download the entire list of […]

Residential Real Estate Terms and Definition Series: Escrow Payment

Escrow Payment: that portion of a mortgagor’s monthly payment held in trust by the lender to pay for taxes, hazard insurance and other items as they become due. Part of the Keller Williams Real Estate Glossary. To download the entire list of terms and definitions, please see the PDF located on our website @ http://jodiecollins.com/Real_Estate_Glossary_1273524611838.pdf

Real Estate Terms Explained: Appraisal

Appraisal: An estimate of real estate value, usually issued to standards of FHA (Federal Housing Administration), VA (Veterans’ Affairs) and FHMA (Family Housing Management Account). Recent comparable sales in the neighborhood is the most important factor in determining value. © 2006 Keller Williams ® Realty, Inc.