Studying for your real estate license exam? Check out our resources on all the definitions you need to know while studying for your real estate exam.
A mortgage broker is an agent who connects home buyers with mortgage lenders. These brokers act as intermediaries between the borrowers and the lenders. As a real estate student, you must understand the responsibilities of a mortgage broker. As a …
Title insurance protects lenders and borrowers against any financial loss that might occur due to title defects. This type of insurance is important as it covers the claims on a property that might not appear during appraisal. In real …
A percentage lease is an agreement in commercial real estate where the tenant pays rent plus a percentage of their earned business revenue. This type of lease is frequently used for commercial tenants, so it’s a must-know for real estate …
A leaseback is an agreement where a business owner sells their property and then leases back the same property from the new owner. Real estate professionals must understand how leaseback transactions work in commercial real estate. This lease type is …
A variable lease is an agreement where the payments made by a lessee fluctuate due to market conditions and other factors. Real estate professionals must be familiar with the different types of variable leases in real estate. When learning about …
The prime rate determines the rates for mortgages, personal loans, and small business loans. The lenders mostly charge this rate to their most favored borrowers. This rate is used as the base for calculating rates for variable-rate mortgages. In real …