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Co-signers
Co-signers Additional signers of a financial agreement that add their personal guarantees to that of the borrower.
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Borrower
A person who has been approved to receive a loan and is then obligated to repay it and any additional fees according to the loan terms.
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Corrective work
Repairs or maintenance that a buyer requests be done on a house before closing.
Correlative water rights
A modern law in some states that holds that a riparian owner who has rights in a common water source is entitled to take only a reasonable amount of the total supply for the beneficial use of land (such as irragation).
Correspondent
A mortgage banker.
Corrosion
The dissolving and wearing away of metal caused by a chemical reaction such as between water and the lead pipes or solder in a home's plumbing.
Corrosive
A substance that eats or wears away materials gradually by chemical action.
Co-signers
Cost approach
The process of estimating the value of a property by adding to the estimated land value.
Cost basis
Accounting figure that includes original cost of property plus certain expenses to purchase, money spent on permanent improvements and other costs, minus any depreciation claimed on tax returns over the years.
Cost of deposit index (CODI)
The Cost of Deposit Index (CODI) is one of several indexes commonly used to set the adjustment amount of an adjustable rate mortgage (ARM).
Cost of funds index (COFI)
One of the indexes that is used to determine interest rate changes for certain adjustable-rate mortgages. It represents the weighted-average cost of savings, borrowings, and advances of the financial institutions such as banks and savings and loans, in the 11th District of the Federal Home Loan Bank.
Cost plus contract
A building contract setting the builder's profit at a set percentage of actual cost of labor and materials.
This dictionary contains 6433 terms. |
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