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Fixed rate option
Fixed rate option An option available on some home equity lines of credit which allows borrowers to fix the payments and interest on a portion of their balance.
RELATED TERMS--------------------------------------
Option
A right given to purchase or lease a property upon specified terms within a specified time.
Equity
The difference between the market value of a property and the amount still owed on the mortgage.
Credit
An agreement in which a borrower receives something of value in exchange for a promise to repay the lender at a later date.
Interest
Money paid to a lender as compensation for money that is borrowed.
Balance
The appraisal principle that states that the greatest value in a property will occur when the type and size of the improvements are proportional to each other as well as the land.
SIMILAR TERMS--------------------------------------
Fixed
A time period that is fixed for each calendar year, either by date or by calendar weeks; most in numerical sequence 1-52.
Fixed costs
Costs that do not fluctuate in proportion to the level of sales or production
Fixed expenses
Those recurring expenses that have to be paid regardless of whether the property is occupied;.
Fixed fee
A contractor submits a bid proposing a fixed amount to do a job. Most construction bids are made on this basis.
Fixed floor coverings
Wall to wall carpet, kitchen linoleum, vinyl tiles, etc. This term does not cover loose rugs.
Fixed installment
Periodic (usually monthly) payment on a loan whose sum does not vary.
Fixed rate
An interest rate that remains constant over the term of the loan
Fixed rate loan
A loan that has an unchanging interest rate.
Fixed rate mortgage
The interest rate on the mortgage is fixed for a certain period, known as the benefit or fixed rate period.
Fixed time
The time of year when the owner in a timeshare arrangement is scheduled to have occupancy.
Fixer upper
A house that needs a lot of work and which sells for a discount.
PREVIOUS AND NEXT TERMS--------------------------------------
Fixed rate
An interest rate that remains constant over the term of the loan
Fixed rate loan
A loan that has an unchanging interest rate.
Fixed rate mortgage
The interest rate on the mortgage is fixed for a certain period, known as the benefit or fixed rate period.
Fixed time
The time of year when the owner in a timeshare arrangement is scheduled to have occupancy.
Fixed fee
A contractor submits a bid proposing a fixed amount to do a job. Most construction bids are made on this basis.
Fixed rate option
Fixer upper
A house that needs a lot of work and which sells for a discount.
Fixture
Personal property that becomes real property when attached in a permanent manner to real estate.
Flashing
Sheet metal or other impervious material used in roof and wall construction as a barrier to water seepage.
Flat fee
A fee paid to an adviser or manager for managing a portfolio of real estate assets, typically stated as a flat percentage of gross asset value, net asset value or invested capital
Flat roof
A roof with a level surface.
This dictionary contains 6433 terms. |
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