A person or corporation's gross earnings before taxes are deducted.Total income before taxes are deducted. …
Bachelor Apartment
A small rental dwelling unit which combines living and bedroom spaces into one room (and, sometimes, kitchen space as well). Also known as "efficiency suite" or "studio apartment". …
Below-Market Interest Rate (BMIR)
A subsidized interest rate on a mortgage or loan, often provided by a government to allow for acquisition of property or reduction in rents charged to tenants. …
Back End Ratio
A comparison of a borrower's monthly expenses to her gross monthly income used to assess her ability to carry a mortgage or other loan. …
Back Title Letter (or Certificate)
Notice by a Title Insurance Company to a person searching and certifying title that a previous search has been completed, setting out the status of title of the property as at a given date such that …
Backup Contract
An Agreement of Purchase and Sale for a particular property which is conditional (becomes binding) upon the failure of another Agreement for the same property. …