Mortgagesphysician.com [2022]

Last Update: May 5, 2022

What is a real estate Listing

What is a real estate listing? Use our extensive real estate and mortgage terms glossary to get definitions that may pertain to you.

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URL: https://www.mortgagesphysician.com/listing/

What is Servicing in Real Estate

(5 days ago) Definition of servicing in real estate. Collection of mortgage payments, customer service, and related responsibilities of loan servicers.

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What is a Survey in real estate

(2 days ago) A survey relates to real estate where a property is measured to locate (determine) a property’s boundary lines after making an offer to purchase a home. The surveyor locates and measures the exact amount of land to be purchased, and also any easements or encroachments on the property. These are to be noted on the home’s chain of title.

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What are Special Assessments in real estate

(5 days ago) The first meaning. Special Assessments ~ Homeowners Association. Homeowners associations charge special fees (assessments) to pay for the repair of building (s) that may far exceed their budgets. The resale certificate is made available to the buyer early on, and it must explain special assessments the association may need to pay that will

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What is Mutual Acceptance in real estate

(3 days ago) Definition of mutual acceptance. The point at which the seller and buyer reach agreement on price and terms and enter into a binding contract is called mutual acceptance. The signing of the Purchase and Sale Agreement, in most states, is signed at ‘mutual acceptance.’.

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What is a Fixer-Upper in real estate

(7 days ago) Some considerations for buyers are potential use of the home, the time and money expended to complete the work, and the market value after the job is done. It is smart to talk with professionals prior to buying a fixer-upper; real estate professionals, a contractor and …

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What are Net Proceeds in real estate

(8 days ago) Definition of net proceeds. The amount of money a seller receives after such costs as commission and closing is called a seller’s net proceeds. The amount might be different from the amount of equity because net proceeds takes into account these closing costs: The type of transaction, location, and the specific home make these costs vary.

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What does Fiduciary mean in real estate

(5 days ago) In real estate, agents that sign agreements to represent clients are placed in a fiduciary relationship with their client(s), always keeping client(s)’ best interests in the forefront of their actions. Mortgage rates by state. Mortgage Rates in Alabama . Mortgage Rates in Alaska . Mortgage Rates in Arizona .

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What is the One-Action Rule

(1 days ago) Definition of one-action rule. Used primarily in California, this legal requirement indicates that lenders can pursue only one legal action in the case of default of a loan. The action might be on the note, or on the foreclosure of the property. However, the lender may not pursue action on both. The one-action rule prevents contemporaneous

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What is a Foreclosed Home/Foreclosure

(3 days ago) The home is not in a status of ‘real estate owned’ by the bank with the primary mortgage. The bank secures a real estate agent who lists it for sale on the local MLS. Mortgage rates by state. Mortgage Rates in Alabama . Mortgage Rates in Alaska . Mortgage Rates in Arizona .

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What is a Notice of Trustee Sale

(8 days ago) Definition of notice of trustee sale. This legal notice is a written document announcing the date, time, and other pertinent information for a property that is planned to sell at auction. The announcement, typically published in a local newspaper (and sometimes posted or published at the courthouse) must, by law, be published within a certain

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What is a Cooperative

(7 days ago) What is a cooperative? Use our extensive real estate and mortgage terms glossary to get definitions that may pertain to you.

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What is an Assumable Mortgage

(4 days ago) A type of loan that a seller can transfer to a buyer is called an assumable mortgage. The buyer takes over the seller’s mortgage and makes the payments just as the seller made. Buyers can sometimes find assumable mortgages if the seller secured a lower interest rate compared to current rates. However, the seller’s principal amount for the

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What is an Absorption Rate

(1 days ago) In real estate, an absorption rate defines the rate at which homes in a specific market sell over time, a month is typical. The rate can be calculated by dividing the number of homes sold over the specific time period by the number of homes still for sale.

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What is a Vacation Home

(9 days ago) A property designated as a vacation home is an additional single-family dwelling a borrower occupies. While the dwelling must not be designated ‘income-producing,’ nor in any way a mandatory rental pool, friends and relatives can occasionally pay to rent it.

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Terms Beginning with 'G' Mortgage, Real Estate, Glossary

(7 days ago) View our mortgage, real estate terms that start with 'G'. Share on facebook. Share on twitter. Share on linkedin. Share on reddit. G. Good Faith Estimate (GFE) Government Loan . Government Mortgage . Government National Mortgage Association (GNMA or Ginnie Mae) Grantee . Grantor . GreatSchools Rating . Gross Income .

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What is a Capitalization Rate (Cap Rate)

(4 days ago) A cap rate is a ratio for estimating the return on investment (ROI) for a real estate property such as an apartment building. Calculate the cap rate by dividing the net operating income (the income an owner makes from the property after he or she subtracts operating expenses) in a given year by the current value or purchase price of the property.

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What does it mean to Convey

(2 days ago) Definition of convey. To convey is to transfer. As applied to property, an item becomes conveyable if it is included as part of the transfer of title, at which time the item is …

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What is a Surveyor

(4 days ago) What is a surveyor? Use our extensive real estate and mortgage terms glossary to get definitions that may pertain to you.

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What is a Security Agreement

(4 days ago) Definition of security agreement. Sometimes combined in the mortgage document, this ancillary loan document provides for a security interest or a lien on personal property (or fixtures upon real property) subject to the underlying mortgage.

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What is a Reverse Mortgage

(2 days ago) Definition of reverse mortgage. A reverse mortgage, sometimes called a home equity conversion mortgage, allows a homeowner 62 years or older to take equity from their home and use it as money in their pocket, and many payment options can address their personally specific financial needs. A borrower does not qualify for a reverse mortgage based

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What is a Balloon Mortgage

(2 days ago) Definition of balloon mortgage. With a balloon mortgage, the buyer usually makes payments over a short period of time (a number of months or just a few years), at which time the lump sun (balloon) payment is due. Balloon mortgages often feature lower interest rates than a traditional 30-year mortgage loan because the loan is either fully repaid

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Mortgage Rates in New York Refinance, Jumbo, Fixed

(2 days ago) Location—State, County, City: In New York real estate markets (and mortgage rates) vary across counties, cities and mortgage rates reflect them. In some areas, the economy is more volatile and there is an increased rate of foreclosures. Where the risk is higher, rates will likely be higher. Alternatively, in New York where foreclosures are

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What is the Case-Shiller Index

(4 days ago) The index refers to several indices that measure the nation’s home prices (set at 100 in January 2000). The Case-Shiller U.S. National Home Price Index keeps track of single-family homes’ prices for each of the nine U.S. Census divisions.

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What is a Self-Represented Buyer

(8 days ago) Definition of self-represented buyer. Sometimes a listing agent is a lone real estate agent who is involved in the sale and purchase of a home. This occurs in certain markets where a buyer chooses to waive representation by any buyer’s agent. The buyer essentially represents herself, sometimes enlisting assistance from an attorney.

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Mortgage Rates in Utah Refinance, Jumbo, Fixed

(8 days ago) Location—State, County, City: In Utah real estate markets (and mortgage rates) vary across counties, cities and mortgage rates reflect them. In some areas, the economy is more volatile and there is an increased rate of foreclosures. Where the risk is higher, rates will likely be higher. Alternatively, in Utah where foreclosures are low

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What are Upfront Costs

(9 days ago) The upfront costs include the inspection and appraisal fees, and earnest money. The earnest money (1%-3% of the home sale price) is typically paid once the mutual acceptance has been reached with the seller. Inspection and appraisal fees are typically $300-$500, and should be expected to be paid during or before closing.

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What is an Insurance Binder

(2 days ago) This document states that insurance is in effect temporarily. The coverage expires at a specific date, requiring a permanent policy be obtained prior to the expiration date. Explore our articles. Tuition-Free Medical School: Become a Doctor without Debt. Lynne Cody June 14, 2021. Chase Bank Physician Mortgage Loans.

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What is the Supreme Court

(9 days ago) What is the supreme court? Use our extensive real estate and mortgage terms glossary to get definitions that may pertain to you.

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What is a Mortgage Loan

(9 days ago) A borrower’s mortgage loan helps fund the cost of a home. Borrowers use a mortgage lender, a conventional loan, VA loan, or an FHA loan, among other types of loans available for which they typically repay the loan in monthly installments.

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Mortgage Rates in Illinois Refinance, Jumbo, Fixed

(2 days ago) Current conforming loan limits in (IL) for 2021: $548,250. Location—State, County, City: In Illinois real estate markets (and mortgage rates) vary across counties, cities and mortgage rates reflect them. In some areas, the economy is more volatile and there is an increased rate of foreclosures.

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15 Year Fixed Mortgage Rates Refinance, Jumbo, Conventional

(4 days ago) A stronger economy means a stable real estate market and lower interest rates, where a less stable economy and real estate market could equate to a higher risk for foreclosure and thus, higher interest rates. Buydown. When borrowers put money down up front to lower the interest rate, they can save thousands of dollars. This option isn’t

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What is an Underwriter

(7 days ago) What is an underwriter? Use our extensive real estate and mortgage terms glossary to get definitions that may pertain to you.

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What is a VA Loan

(3 days ago) Definition of VA loan. Commonly referred to as a VA loan, a Veterans Affairs loan is guaranteed by the US Department of Veterans Affairs, and this type of loan is available only to eligible veterans, spouses, and beneficiaries. The VA loan is similar to an FHA loan in that the guarantees by the government translates to lower risk for the lender.

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10 Year Fixed Mortgage Rates Refinance, Jumbo, Conventional

(4 days ago) A stronger economy means a stable real estate market and lower interest rates, where a less stable economy and real estate market could equate to a higher risk for foreclosure and thus, higher interest rates. Buydown. When borrowers put some money down up front to lower the interest rate, they can save thousands of dollars. This option isn’t

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Mortgage Rates in Pennsylvania Refinance, Jumbo, Fixed

(6 days ago) Location—State, County, City: In Pennsylvania real estate markets (and mortgage rates) vary across counties, cities and mortgage rates reflect them. In some areas, the economy is more volatile and there is an increased rate of foreclosures.

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Mortgage Rates in Hawaii Refinance, Jumbo, Fixed

(Just Now) Location—State, County, City: In Hawaii real estate markets (and mortgage rates) vary across counties, cities and mortgage rates reflect them. In some areas, the economy is more volatile and there is an increased rate of foreclosures. Where the risk is higher, rates will likely be higher. Alternatively, in Hawaii where foreclosures are low

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