Flashcards in Real Estate Finance Principles Deck (9)
In a "Texas Bootstrap" loan, all Owner-Builders are required to provide at least __% of the labor necessary to build or rehab their housing by working with a state-certified Nonprofit Owner-Building Housing Provider (NOHP)
Adjustable Rate Mortgages, Condo Mortgages, Disaster Victims Mortgages, and Energy-Efficiency Mortgages are all types of loans available through:
A discount point is a fee charged by the lender:
equal to 1 percent of the loan amount.
"Fair Isaac Corporation"
The advantage of seller/owner financing is that:
1. the seller may be more flexible on payment schedules
2. the seller may be more willing to finance a buyer with a low credit rating
3. the owner may be able to provide financing for a property that a lending institution would not be willing to finance due to age or condition
The __ market is the market where borrowers and mortgage lenders meet to negotiate terms and conduct mortgage transactions.
The __ is a secondary loan for real property, that incorporates the first loan without paying it off.
A $200,000 mortgage loan on a $250,000 home is what "loan to value"?
LVR = Mortgage amount/appraised value of property