We wrote this glossary of terms to help you better understand real estate jargon. Going beyond just definitions, we give you examples, synonyms and links to other perspectives so you can put the lingo to good use in your home search.
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A
- Absorption Rate
- Active
- Addendum
- Adjustable Rate Mortgage
- Amenity
- Amortization
- Annual Percentage Rate
- APN
- Appraisal
- Appraiser
- Appreciation
- Arms-Length Transaction
- Assessment
- Assessor
- Assumable Mortgage
- Average
B
- Backup Offers
- Balloon Mortgage
- Bridge Loan
- Broker
- Building Code
- Bump Clause
- Buyer Agency
- Buyer's Agency Agreement
- Buyer's Agent
- Buyer's Market
C
- Cap
- Case-Shiller Index
- Cash-Out Refinancing
- Certificate of Occupancy
- Closing Costs
- Comparables
- Comparative Market Analysis (CMA)
- Concessions
- Condo Lottery
- Condominium
- Conforming Loan
- Contingency
- Contingent
- Conventional Loan
- Cooperative
- Covenants, Conditions & Restrictions (CC&Rs)
- Credit Report
- Credit Score
D
- Debt-to-Income Ratio
- Deed
- Deed-in-Lieu
- Default
- Department of Housing and Urban Development (HUD)
- Depreciation
- Discount Point
- Down Payment
- Dual Agency
E
F
- Fair Housing Act
- Fair Market Value
- Fannie Mae
- Fed
- Federal Housing Administration
- Federal Housing Administration Loan
- Fee Simple
- Fiduciary
- First-Time Home Buyer Tax Credit
- Fixed Rate Mortgage
- Flipping
- Float Down
- Flood Insurance
- Foreclosed Home
- Foreclosure
- For-Sale-By-Owner (FSBO)
- Freddie Mac
G
H
- Home-Equity Line of Credit (HELOC)
- Homeowners Association
- Homeowners Association Dues
- Homeowner's Insurance
- Home Valuation Code of Conduct (HVCC)
- HUD-1 Settlement Statement
I
J
L
- Lien
- Lis Pendens
- Listing
- Listing Agent
- List Price
- Loan Commitment Letter
- Loan-to-Value Ratio (LTV)
- Lock-In (Rate Lock)
- Loss Mitigation
M
- Median
- Mello-Roos
- Months of Supply
- Mortgage Broker
- Mortgage Fees
- Mortgage Insurance
- Mortgage Lender
- Mortgage Loan
- Multi-Family
- Multiple Listing Service (MLS)
- Mutual Acceptance
N
- National Association of Realtors
- Natural Hazard Disclosure Act
- Negative Amortization Loan
- New Construction
- Notice of Default
O
P
- Par Rate
- Pending
- Per Diem
- Planned Unit Development (PUD)
- Pocket Listings
- Possession: Subject to Home Choice
- Pre-approval
- Pre-Payment Penalty
- Pre-qualification
- Price/Square Foot ($/Sq. Ft.)
- Principal, Interest, Taxes, Insurance (PITI)
- Probate Sale
- Procuring Cause
- Property Tax
- Public Offering Statement
- Purchase and Sale Agreement
Q
R
- Radon
- Real Estate Agent
- Realtor
- Redfin Associate Agent
- Redfin Field Agent
- Redfin Lead Agent
- Refinance
- REO (Real Estate Owned Home)
- Resale Certificate
- Rescission Notice
- Reserves
- RESPA
S
- Sale-to-List Ratio
- Seasoning
- Secondary Mortgage Market
- Seller Disclosure
- Seller's Market
- Selling Office Commission (SOC)
- Senior Exemption
- Settlement
- Short Sale
- Single Family Residence (SFR)
- Sold
- Special Assessments
- Subject to Inspection (STI)
- Survey
- Surveyor
- Sweat Equity