Information about home, mortgage, insurance, homebuyer, real estate, property, buy home, home insurance, financing, home financing, home buyer, first time homebuyer, homes, homebuying, credit, condo.
Main Page: condo, home insurance, credit, first time homebuyer, insurance, homebuying, homes, home financing, buy home,
Also see related: financial advisor, credit, inventory, stock trading, inventory control, tax advisor, business, money,
Home Terms Main Page
This site contains comprehensive definitions for a wide range of terms that cover topics such as home, mortgage, insurance, homebuyer, real estate, property, buy home, home insurance, financing, home financing, home buyer, first time homebuyer, homes, homebuying, credit, condo...
Our proprietary algorithm provides many related definitions for each term, helping you better understand the subject.
Monthly Home Term Picks:
Coverage that provides a lump-sum payment to you or your survivors if an accident results in the loss of a limb, paralysis or your death.
The cost of insuring a particular individual under the policy. It is based on the amount of coverage, as well as the underwriting class, age, sex and tobacco consumption of that individual.
Date on which a policy is approved.
Yearly event linked to a policy. Usually the date issued.
A specific time that must pass following the onset of a covered disability before any benefits will be paid under a creditor disability policy. (Also known as an elimination period).
The process of determining the value of property, usually for lending purposes. This value may or may not be the same as the purchase price of the home.
A document setting out instruments registered against the title to the property, e.g. deed, mortgages, etc.
A form of reducing term insurance recommended for all mortgagors. If you die, have a terminal illness, or suffer an accident, the insurance can pay the balance owing on the mortgage. The intent is to protect survivors from the loss of their homes.
The meeting at which the sale of a property is finalized. The buyer signs the lender agreement for the mortgage and pays closing costs and escrow amounts. The buyer and seller sign documents to transfer ownership of the property. Also known as the settlement.
Annual cost of credit over the life of a loan, including interest, service charges, points, loan fees, mortgage insurance, and other items.
A molding, attached to one of a pair of swinging double doors, against which the other door strikes.
An opening to allow the passage of air through the unexcavated area under a first floor. Ideally there should be at least two vents per crawlspace.
A decorative feature approximately 8 feet above the floor, normally associated with volume ceilings that add high spaces/shelves to use for decorative purposes.
Thin tapered piece of wood used for leveling or tightening a stair or other building element.
The operating or movable part of a window; the sash is made of window panes and their border.