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Standard payment calculation
Standard payment calculation A method of figuring out how much monthly payments should be, based on the beginning loan balance, the term and the interest rate.
RELATED TERMS--------------------------------------
Loan
A sum of borrowed money (principal) that is generally repaid with interest.
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.
Term
The length of time in which a loan is to be paid off.
Interest
Money paid to a lender as compensation for money that is borrowed.
Rate
Percentage a borrower pays for the use of money, usually expressed as an annual percentage.
SIMILAR TERMS--------------------------------------
Standard coverage policy
A standard coverage policy normally insures the title as it is known from the public records.
Standard Metropolitan Statistical Area
Areas designated by the U.S. Office of Management and Budget that contain a city of 50,000 or more.
Standard Uniform Application
An application developed by FNMA and FHLMC that is widely used in the mortgage industry.
Standard Variable Rates (SVR)
The lender’s standard mortgage interest rate - without any discount. Usually tracks an index.
Standby takeout commitment
An agreement by an interim lender to advance funds to take out a construction lender.
Stanley property
Property in Stanley, the Falkland Islands. Apartments, flats, houses, offices and other property in Stanley.
PREVIOUS AND NEXT TERMS--------------------------------------
Square-foot method
A method of estimating a building's construction, reproduction or replacement costs; whereby the structure's square-foot floor area is multiplied by an appropriate construction cost per square foot.
Stabilized net operating income
Projected income less expenses that are subject to change but have been adjusted to reflect equivalent, stable property operations.
Stabilized occupancy
The optimum range of long-term occupancy that an income-producing real estate project is expected to achieve after exposure for leasing in the open market for a reasonable period of time at terms and conditions comparable to competitive offerings.
Standard coverage policy
A standard coverage policy normally insures the title as it is known from the public records.
Standard Metropolitan Statistical Area
Areas designated by the U.S. Office of Management and Budget that contain a city of 50,000 or more.
Standard payment calculation
Standard Uniform Application
An application developed by FNMA and FHLMC that is widely used in the mortgage industry.
Standard Variable Rates (SVR)
The lender’s standard mortgage interest rate - without any discount. Usually tracks an index.
Standby takeout commitment
An agreement by an interim lender to advance funds to take out a construction lender.
Star System
Usually used in franchised hotels-motels. Designates the services provided by the property.
Stare decisis
The reliance of courts on previous decisions when judging disputes.
This dictionary contains 6433 terms. |
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