A small recessed area in a wall, traditionally arched at the top. …
No-Cash-Out Refinance
The amount of the new mortgage covers the remaining balance of the first loan plus closing costs and any liens, and yields no more than 1 percent of the new loan's principal in cash. …
No-Competition Lots
A lot in which the buyer's home will be constructed by a preselected builder. …
No-Documentation Loan
A loan application that does not require verification of income but typically is granted in cases of large down payments. …
Non-Conforming Loan
A non-conforming loan is any loan that doesn't meet the qualifications or is too large to be purchased by Fannie Mae or Freddie Mac. The current conforming loan limit is $252,700. …
Non-Liquid Asset
An asset such as a house that is not easily turned into cash. …