Archives: Glossary Terms

A table showing the periodic principal and interest payment requirements and the unpaid loan balance for each period of the life of a loan.

A table showing the required payments to amortize loans at various interest rates over various periods of time

A mortgage where the principal and interest are repaid according to a plan through a series of equal or nearly equal payments in monthly or other periodic installments without any special balloon payment prior to maturity. Also known as a Level payment loan.

The key tenant in a commercial development such as a mall whose quality often determines the size of a loan that can be secured.

(APR) The identified cost of credit as determined in accordance with Regulation Z and the Federal Truth in Lending Act.

A multifamily dwelling structure with individual housing units called apartment frequently with a common entrance and hallways which usually is a rental property. See Multifamily housing

The division of rights or liabilities among several persons entitled to them or liable for them in accordance with their respective interests.

An estimate or opinion of value of a specific property as of a specific date resulting from an analysis of the facts about that property by an qualified impartial third party.

A compilation of all of the specific items that make up the property that were valued by the appraiser and included in an appraisal report.

A report setting forth the estimate and conclusion of appraised value along with the pertinent information concerning the appraised property as well as the evidence and analysis leading to the reported estimate of value.