Amenity at Mortgage Glossary
What is it? a feature of the home or property that serves as a benefit to the buyer but that is not necessary to its use; may be natural (like location, Woods, water) or man-made (like a swimming pool or garden).Mortgage Dictionary Term Added By: Patrick
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Other Similar Mortgage Terms:
Mortgage Term Letter of intent is A formal statement that the buyer intends to purchase the property for a certain price on a certain date.Mortgage Term Bond is An interest-bearing certificate of debt with a maturity date. An obligation of a government or business corporation. A real estate bond is a written obligation usually secured by a mortgage or a deed of trust.
Mortgage Term Default is The nonperformance of a duty or obligation that is part of a contract. The most common occurrence of default on the part of a buyer or lessee is nonpayment of money when due. A default is normally a breach of contract, and the nondefaulting party can seek
Mortgage Term Covenants, conditions and restrictions (CC&Rs) is Rules and regulations for a development, such as acceptable landscaping or improvements that can be made to individual units.
Mortgage Term No-Cost Loan is A no-cost loan can either be 1) a loan that has no lender costs associated with it or, 2) a loan that also covers purchases or refinancing costs, which may be incurred in buying a home, obtaining and/or refinancing a loan, but are not directly charged b