Know the Terms of Lenders (A-E): Summit County Colorado Real Estate Guide

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Know the Terms of Lenders (A-E):

Know the Terms of Lenders (A-E):

ADC Loan – Covers the Acquisition, development and construction of a development project

Add-Back – Defers payment of a portion of the interest and is added to the balloon payment due at the end of the loan.

Adjustable-rate-loan – Used to describe a loan with rates and terms that can change.

Affordability index – A gauge to determine the financial ability of consumers to buy a home

Amortization – Self liquidating (killing-off) of debt by means of systematic payments of principal and interest

Annual Percentage Rate (APR) – The total finance charge to the total amount to be financed as required under the Truth-in-Lending Act.

Assumption of Mortgage – Acquiring title to property but agreeing to be liable for the terms and conditions of the mortgage.

Bonus Clause – A prepayment clause that provides a special payment to the lender if full or partial payment is made before the due date.

Bridge Loan – The period of time to cover the period between the termination of one loan and the beginning of another

Bullet loan – a short term, interest-only loan with a balloon payment

Buydown – Used to reduce the monthly payment for the homebuyer borrowing during the initial years

Carryback – The seller will take back a note for part of the purchase price secured by a junior mortgage, wraparound mortgage or contract for deed

Debt to equity ratio – The total loan owed to the lender an the invested capital of the owner

Effective Yield – The calculation of the return on investment that considers the price paid, time held, and interest charged.

Elasticity – The ability of the real estate supply to respond to price increases over a short period of time

Know the Terms of Lenders (A-E): - Summit County, Colorado

Colorado Real Estate - Know the Terms of Lenders (A-E):

Know the Terms of Lenders (A-E): Summit County Colorado Real Estate Guide

Know the Terms of Lenders (A-E):

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