LISTING INFO 

Merged Credit Report A credit report issued by a credit reporting company that combines information from two or three major credit bureaus.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale...

Maturity Date The date on which a mortgage loan is scheduled to be paid in full, as stated in the note.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet InTouchEmail:...

Market Value The current value of your home based on what a purchaser would pay. An appraisal is sometimes used to determine market value.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale...

Margin A percentage added to the index for an adjustable-rate mortgage (ARM) to establish the interest rate on each adjustment date.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet...

Manufactured Housing Homes that are built entirely in a factory in accordance with a federal building code administered by the U.S. Department of Housing and Urban Development (HUD). Manufactured homes may be singleor multi-section and are transported from the factory to a site and installed....

Low-Down-Payment Feature A feature of some mortgages, usually fixed-rate mortgages, that helps you buy a home with a low down payment.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet...

Lock-In Rate A written agreement guaranteeing a specific mortgage interest rate for a certain amount of time.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet InTouchEmail:...

Loan-To-Value (LTV) Ratio The relationship between the loan amount and the value of the property (the lower of appraised value or sales price), expressed as a percentage of the property’s value. For example, a $100,000 home with an $80,000 mortgage has an LTV of 80 percent.  Real estate words...

Closing COSTS The upfront fees charged in connection with a mortgage loan transaction. Money paid by a buyer (and/or seller or other third party, if applicable) to effect the closing of a mortgage loan, generally including, but not limited to a loan origination fee, title examination and...

Loan Origination Fees Fees paid to your mortgage lender or broker for processing the mortgage application. This fee is usually in the form of points. One point equals one percent of the mortgage amount.  Real estate words and definition For other words and definitions related to real estate...