Skip payment mortgage

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Skip payment mortgage

Skip payment mortgage

A feature built into some mortgages where the borrower can choose not to make the payment in a given month.

RELATED TERMS
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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.

SIMILAR TERMS
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PREVIOUS AND NEXT TERMS
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Site analysis
Determines the suitability of a specific parcel of land for a specific use.

Site development
The installation of all necessary improvements made to a site before a building or project can be constructed on the site.

Site plan
A detailed plan that depicts the location of improvements on a parcel.

Situs
The location of a property.

Six-month Certificate of Deposit (CD) Spot Index
This index is the weekly average of the interest rates paid by institutions on negotiable six-month certificates of deposit.

Skip payment mortgage

Skylight
A window in a roof that allows natural light to illuminate a room.

Slab
The exposed wearing surface laid over the structural support beams of a building to form the floor(s) of the building.

Slab foundation
A foundation built directly on soil with no basement or crawl space.

Slider window
A window that is composed of two windows, or sashes, that glide open and closed on a metal track.

Smoke detector certificate
Written verification from a municipality that the smoke detectors in a home meet the necessary standards.

This dictionary contains 6433 terms.

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