Real Estate Terms of the Week

Two-step Mortgage  or Graduated Payment
An adjustable-rate mortgage (ARM) that has one interest rate for the first five or seven years of its mortgage term and a different interest rate for the remainder of the amortization term.

REALTOR®  
An active member of a local board of realtors. Local boards are affiliated with the National Association of REALTORS®.

Deed  
The legal document that is used to transfer the title from one owner to another.

Home Market Analysis  
The Home Market Analysis presents an opportunity to review and evaluate the facts before you decide the price you will ask for your home. It also helps you look at your home from a buyer’s perspective. This process will establish a realistic listing price and increase the percentage of qualified buyers who look at your property.

Source: GMAC Real Estate

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s