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.
The Single-Family Home Exemption states that homeowners selling single-family homes without a licensed real estate agent are exempt from the Fair Housing Act. To ensure a passing grade on the real estate exam, you’ll need to be well-versed in the …
The Mrs. Murphy Exemption provides that owner-occupied homes with four or fewer rental units are exempt from certain aspects of the Fair Housing Act. This exemption allows property owners to discriminate against certain groups when looking for tenants. You may …
A principal payment is a payment toward the principal or original amount borrowed. Mortgage payments consist of two components which include principal and interest. It is important to understand the components that contribute to mortgage payments. As a real estate …
Equity in real estate is the difference between how much your property is worth and how much you owe. Equity is often difficult to calculate for real estate novices, but it is essential to understand if you plan on being …
Redlining is the denial of goods or services to people of a protected class; the term originates from lenders denying worthy applicants mortgages based on their race or ethnicity. Redlining violates fair housing and fair lending laws, which you’ll need …
The Fair Housing Amendments Act (FHAA) of 1988 enforces Title VIII and makes it illegal to discriminate against families with children and people with disabilities. With our guidance and years of expertise in real estate, we’re here to teach you …
