by Myers Jackson | Dec 31, 2024 | Auction News
Rate Lock An agreement in which an interest rate is “locked in” or guaranteed for a specified period of time prior to closing. See also “Lock-in Rate.” Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate...
by Myers Jackson | Dec 31, 2024 | Auction News
Rate Cap The limit on the amount an interest rate on an adjustable-rate mortgage (ARM) can increase or decrease during an adjustment period. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK...
by Myers Jackson | Dec 31, 2024 | Auction News
Radon A toxic gas found in the soil beneath a house that can contribute to cancer and other illnesses. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS BUTTON For all active auctions,...
by Myers Jackson | Dec 31, 2024 | Auction News
Quality Control A system of safeguards to ensure that loans are originated, underwritten and serviced according to the lender’s standards and, if applicable, the standards of the investor, governmental agency, or mortgage insurer. Real estate words and...
by Myers Jackson | Dec 31, 2024 | Auction News
Qualifying Ratios Calculations that are used in determining the loan amount that a borrower qualifies for, typically a comparison of the borrower’s total monthly income to monthly debt payments and other recurring monthly obligations. Real estate words and...
