by Myers Jackson | Dec 31, 2024 | Auction News
Investment Property A property purchased to generate rental income, tax benefits, or profitable resale rather than to serve as the borrower’s primary residence. Contrast with “second home.” Real estate words and definition CLICK THIS BUTTON For other words and...
by Myers Jackson | Dec 31, 2024 | Auction News
Fannie Mae/Freddie Mac Loan Limit The current 2006 Fannie Mae/Freddie Mac loan limit for a single-family home is $417,000 and is higher in Alaska, Guam, Hawaii, and the U.S. Virgin Islands. The Fannie Mae loan limit is $533,850 for a two-unit home; $645,300 for a...
by Myers Jackson | Dec 31, 2024 | Auction News
Interest Rate Floor For an adjustablerate mortgage (ARM), the minimum interest rate, as specified in the mortgage note. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS BUTTON For all...
by Myers Jackson | Dec 31, 2024 | Auction News
Fannie Mae-Seller/Servicer A lender that Fannie Mae has approved to sell loans to it and to service loans on Fannie Mae’s behalf. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS...
by Myers Jackson | Dec 31, 2024 | Auction News
Fannie Mae A New York stock exchange company. It is a public company that operates under a federal charter and is the nation’s largest source of financing for home mortgages. Fannie Mae does not lend money directly to consumers, but instead works to ensure that...
