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...
by Myers Jackson | Dec 31, 2024 | Auction News
Cooperative (Co-op) Project A project in which a corporation holds title to a residential property and sells shares to individual buyers, who then receive a proprietary lease as their title. Real estate words and definition CLICK THIS BUTTON For other words and...
by Myers Jackson | Dec 31, 2024 | Auction News
Convertible ARM An adjustable-rate mortgage (ARM) that allows the borrower to convert the loan to a fixed-rate mortgage under specified conditions. 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
Conversion Option A provision of some adjustable-rate mortgage (ARM) loans that allows the borrower to change the ARM to a fixed-rate mortgage at specified times after loan origination. Real estate words and definition CLICK THIS BUTTON For other words and...
by Myers Jackson | Dec 31, 2024 | Auction News
Conventional Mortgage A mortgage loan that is not insured or guaranteed by the federal government or one of its agencies, such as the Federal Housing Administration (FHA), the U.S. Department of Veterans Affairs (VA), or the Rural Housing Service (RHS). Contrast with...
