Real Estate Terms Starting with

The part of a building facing a street or courtyard. … [Read more...] about Façade

A facilitator in real estate is a professional who aids in the transaction process between buyers and sellers.They ensure communication is clear, help solve problems, and work to make the transaction as smooth as possible. Unlike an agent or broker, a facilitator doesn't represent any party but serves as a neutral intermediary.The Role Of A Real Estate Facilitator: … [Read more...] about Facilitator

A federal law that governs credit and charge card billing errors. If a credit or charge card company violates any provision, consumers can sue to recover damages. … [Read more...] about Fair Credit Billing Act

A federal law designed to regulate procedures and prevent old or inaccurate information from staying in consumer credit files. The act gives individuals the right to inspect their own credit files, although the credit bureau may charge a fee. … [Read more...] about Fair Credit Reporting Act

A federal law which outlaws debtor harassment, and regulates collection agencies, original creditors' collection offices (if separate), and creditors' lawyers. The original creditor may be covered by state law. … [Read more...] about Fair Debt Collection Practices Act

Landmark federal law that makes it illegal to refuse to rent or sell to anyone based on race, color, religion, sex, or national origin. The 1988 amendments to the act expanded the protections to include family status and disability. … [Read more...] about Fair Housing Act

The official name of the Federal National Mortgage Association, it is a congressionally chartered, shareholder-owned company that buys mortgages from lenders and resells them as securities on the secondary mortgage market. … [Read more...] about Fannie Mae

A U.S. Department of Agriculture agency that provides credit to farmers and rural residents. … [Read more...] about Farmer’s Home Administration (FmHA)

A flat board that runs horizontally along the eaves of a roof, typically capping the ends of the roof rafters to give the roof edge a more finished look and provide a base for attaching gutters. … [Read more...] about Fascia

The Federal Home Loan Mortgage Corporation is commonly known as Freddie Mac. The company buys mortgages from lending institutions, pools them with other loans, and sells shares to investors. … [Read more...] about Federal Home Loan Mortgage Corporation (FHLMC)

This government agency operates a variety of home-loan programs. Its most popular is the Section 203(b) program, which provides low-rate mortgages to buyers who make a down payment as small as 3 percent. This government agency operates a variety of loan programs including the Section 203(b) program, which provides low-rate mortgages to buyers who make a down payment of as … [Read more...] about Federal Housing Administration (FHA)

Now officially dubbed Fannie Mae, this federally chartered agency buys mortgages from lending institutions, pools them with other loans, and sells shares to investors. … [Read more...] about Federal National Mortgage Association (FNMA)

A group of economists and other experts who set the nation's monetary policy. Its chief tool to control inflation is the power to control interest rates. … [Read more...] about Federal Reserve Board

The American home architecture style that evolved after the Revolutionary War. Details include bigger windows and a front doorway surrounded by glass and topped with an arched window. … [Read more...] about Federal Style

The government agency that regulates companies and industries, from credit bureaus and collection agencies to timeshare operators and some creditors. National headquarters: Sixth and Pennsylvania Avenue NW, Washington, D.C. 20580. Phone: (202) 326-2222. … [Read more...] about Federal Trade Commission (FTC)

Fee simple is a term in real estate that refers to the highest form of property ownership, providing the property owner with the most comprehensive set of rights and privileges. Under fee simple ownership, the owner has full control over the land and any improvements on it, including the right to possess, use, enjoy, and dispose of the property as they wish, subject to public … [Read more...] about Fee Simple

A fee simple absolute is the most complete and unrestricted form of property ownership, granting the owner full rights to the property, including the land and any structures or improvements on it. This type of ownership allows the property owner to possess, use, transfer, or sell the property without limitations, subject only to public or private restrictions, such as zoning … [Read more...] about Fee Simple Absolute

The owner of the property holds a fee simple title subject to certain conditions. … [Read more...] about Fee Simple Defeasible

Fenestration refers to the arrangement, design, and construction of windows, doors, and other openings in a building's façade or walls. The term encompasses the style, size, and proportion of these openings, as well as the materials used for frames and glazing. Fenestration plays a crucial role in a building's aesthetics, energy efficiency, natural lighting, and ventilation. In … [Read more...] about Fenestration

An ancient Chinese design philosophy in which the positioning and physical characteristics of the home are believed to affect the fortunes of the owner. … [Read more...] about Feng Shui

An FHA loan is a mortgage loan insured by the Federal Housing Administration (FHA), a U.S. government agency. These loans are designed to help homebuyers with lower credit scores or limited funds for down payments by offering more lenient borrowing requirements compared to conventional loans. Lenders issuing FHA loans are protected against default, as the FHA provides mortgage … [Read more...] about FHA Loan

A fiduciary duty is a legal and ethical obligation that requires real estate professionals, such as agents and brokers, to act in the best interests of their clients. This responsibility includes duties of loyalty, care, disclosure, obedience, and confidentiality, ensuring that the professional prioritizes the client's needs and protects their interests during transactions. … [Read more...] about Fiduciary Duty

Modifications made on the construction site that do not match blueprints. … [Read more...] about Field Changes

Soil brought in to solidify a finished foundation. … [Read more...] about Fill Dirt

An area where the ground has been raised by adding dirt, gravel, or other fill material. … [Read more...] about Filled Land

Closing costs that are added to the loan amount. This practice saves the borrower cash up front, but increases the borrower's monthly payment. … [Read more...] about Financed Closing Costs

A fee in any amount that is paid to someone. … [Read more...] about Finder’s Fee

A finish that prepares a lot for landscaping. … [Read more...] about Finish Grade

A buffer composed of fire-resistant material. … [Read more...] about Fire Wall

A promise made by a lender to loan money for the purchase of property. … [Read more...] about Firm Commitment

The primary mortgage on a property. The first mortgage takes priority over all other voluntary liens. … [Read more...] about First Mortgage

See Point of Beginning … [Read more...] about First Station

The monthly payment on a home loan. … [Read more...] about Fixed Installment

The interest rate remains the same for the term of the mortgage. … [Read more...] about Fixed Rate Mortgage

The specific weeks in a year that an owner of a timeshare arrangement has access to accommodations. … [Read more...] about Fixed Time

A home loan with an interest rate that will remain at a specific rate for the term of the loan. About 75 percent of all home mortgages have fixed rates. … [Read more...] about Fixed-rate Mortgage

A house that needs refurbishment or remodeling and usually sells at a below-market price. … [Read more...] about Fixer-upper

Personal property permanently attached to a house, such as drapery rods, toilets, built-in bookcases, or a furnace. … [Read more...] about Fixture

Metal strips placed around chimneys, skylights, vents, windows, doors, beneath shingles, and along seams in the roof to prevent water seepage. … [Read more...] about Flashing

A set fee charged by a broker instead of a commission. … [Read more...] about Flat Fee

A roof with a level surface. … [Read more...] about Flat Roof

An electrical switch operated by pushing the control knob up or down. … [Read more...] about Flip Switch

A wire-like device in some types of toilets that attaches a float ball to the ball cock. … [Read more...] about Float Arm

A round or oval ball that floats on top of the water inside the tank of some toilets. When it reaches its highest position, it shuts off the flow of water. … [Read more...] about Float Ball

A drain that diverts water from the basement to a collection area. Water is then removed with a sump pump. … [Read more...] about Float Floor Drain

A concrete floor that is not connected to the foundation wall. … [Read more...] about Floating Slab

Walls built to withstand movement in the basement floor. … [Read more...] about Floating Wall

The process of determining whether a property is located within a known flood zone. If the property is in a flood zone, the lender will probably require federally provided flood insurance. … [Read more...] about Flood Certification

Hazard coverage that is required in designated flood areas. … [Read more...] about Flood Insurance

Flat, flood-prone areas located along waterways. … [Read more...] about Flood Plain