Push Market: A push market is when the Real Estate market conditions are in-between a sellers’ and buyer’s market and neither side has a real advantage over the other during negotiations.
Sellers’ Market: A Sellers’ Market means that there are more people looking to purchase a home, as opposed to those wanting to sell their home. In this situation, the seller is in a favorable position since there is competition for their home.
Fixed Rate Mortgage: a loan that fixes the interest rate at a prescribed rate for the duration of the loan. 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
FHA Insured Mortgage: a mortgage under which the Federal Housing Administration insures loans made, according to its regulations. 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
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 […]
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
Amortized Loan: a loan that is paid in equal installments during its term. © 2006 Keller Williams ® Realty, Inc.
Adjustable Rate Mortgage: a mortgage that permits the lender to adjust the mortgage’s interest rate periodically on the basis of changes in a specified index. Interest rates may move up or down, as market conditions change. © 2006 Keller Williams ® Realty, Inc.
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.