The maximum interest rate charge allowed on the monthly payment of an adjustable rate mortgage during an adjustment period. …
Rate Lock
A lender's commitment to a borrower to guarantee (or "lock in") a specific interest rate for a limited amount of time. …
Rate Type
Rate type determines if and how payments adjust over the loan term. Available rate types include fixed-rate, balloon, and adjustable-rate. …
Rate-Improvement Mortgage
A loan with a clause that entitles a borrower to a one-time interest rate cut without going through refinancing. …
Real Estate
Land and anything permanently affixed to it, including buildings. …
Real Estate Agent
A real estate agent is a licensed professional who represents buyers or sellers in real estate transactions, facilitating the process of buying, selling, or renting properties. Agents work under the …