Home About Glossary

Glossary of terms and acronyms used on this site

There are 93 entries in this glossary.
All | 0-9 | A | B | C | D | E | F | G | H | R | T | U | V | Z

All

Term Definition
Assumable Mortgage

When a home is sold, the seller may be able to transfer the mortgage to the new buyer. This means the mortgage is assumable. Lenders generally require a credit review of the new borrower and may charge a fee for the assumption. Some mortgages contain a due-on-sale clause, which means that the mortgage may not be transferable to a new buyer. Instead, the lender may make you pay the entire balance that is due when you sell the home. An assumable mortgage can help you attract buyers if you sell your home. Source: www.hud.gov

All | 0-9 | A | B | C | D | E | F | G | H | R | T | U | V | Z
Glossary 2.64 is technology by

Expert Skills

FHA Approved Appraiser
with 25+ years of Qualifications and Experience

Manufactured/Mobile
Home Appraisal, Inspection and Valuation

Certified Appraiser
SCGREA General Appraiser as Staff Supervisor

Condo Project Approvals
for FHA/HUD, VA, Fannie Mae & Freddie Mac