The monthly assessment paid by homeowners' association members for the repair and maintenance of common areas. …
Managed-Competition Lots
Lots in which buyers choose between one of several builders. …
Mansard Roof
A roof with four sides that slope upward from the roof edge to a square peak. …
Local Improvement District (LID)
A legal district established by state law to benefit a specific area. Districts issue bonds to finance improvements such as sidewalks and sewer systems, then levy assessments on real estate in the …
Lock-In
A lender's commitment to a borrower to guarantee (or "lock in") a specific interest rate for a limited amount of time. …
Lock-In Period
A period of time during which the borrower is guaranteed an agreed-upon interest rate, even if market rates rise. The longer the period, the higher the cost (in points) to the borrower. …