by Myers Jackson | Dec 31, 2024 | Auction News
Fixed-Rate Mortgage A mortgage with an interest rate that does not change during the entire term of the loan. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS BUTTON For all active...
by Myers Jackson | Dec 31, 2024 | Auction News
Credit Bureau A company that gathers information on consumers who use credit. These companies sell that information to lenders and other businesses in the form of a credit report. Real estate words and definition CLICK THIS BUTTON For other words and...
by Myers Jackson | Dec 31, 2024 | Auction News
Credit The ability of a person to borrow money, or buy goods by paying over time. Credit is extended based on a lender’s opinion of the person’s financial situation and reliability, among other factors. Real estate words and definition CLICK THIS BUTTON For...
by Myers Jackson | Dec 31, 2024 | Auction News
Counter-offer An offer made in response to a previous offer. For example, after the buyer presents their first offer, the seller may make a counter-offer with a slightly higher sale price. Real estate words and definition CLICK THIS BUTTON For other words and...
by Myers Jackson | Dec 31, 2024 | Auction News
Cost of Funds Index (COFI) An index that is used to determine interest rate changes for certain adjustable-rate mortgage (ARM) loans. It is based on the weighted monthly average cost of deposits, advances, and other borrowings of members of the Federal Home Loan Bank...
