There are 17 terms in this glossary beginning with the letter C.
Cash out refinance
a second mortgage in which the borrower extracts home equity at the same time a refinance deal is made; an alternative to a home equity loan.
the formal documented sale of a home and/or property that includes signing all documents associated with the exchange and payment of required closing fees. A closing agent usually oversees this process.
the person responsible for mediating the closing, documenting the process and assuring all associated paperwork is completed. May be an attorney or official from a title or mortgage company.
real estate transaction related fees payable by the buyer and seller during a closing. A wide variety of fees may be included, such as title search, attorney's fees, origination fees, documentation fees and more.
a borrower with good credit that agrees to take on shared responsibility for a home loan so that the primary borrower may purchase property.
a type of loan that combines an initial loan typically for new home construction, with a second conventional home loan that supplants the first.
a document from a lender to a borrower that officially lays out the terms of a loan.
Comparable sales, comps
similar home sale prices in the region used as a metric in the calculation of a home's appraised value.
a conventional loan characterized by loan limits that fall within those guidelines laid out by the Government Sponsored Enterprises (GSEs) such as Freddie Mac and Fannie Mae.
a short-term loan for new home construction that is supplanted with a conventional long-term home loan. See combination loan.
any one of a number of common clauses added to real estate agreements that provide buyer or seller rights during various stages of a transaction.
a mortgage offered by any one of the Government sponsored entities, different from an FHA loan.