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 federal single-family home exemption is a limited exception for certain sales or rentals by private individual owners. Selling without a broker alone is not enough, and the owner does not have to live elsewhere to qualify. For exam study, …
The Mrs. Murphy exemption is a limited federal fair housing exemption for certain owner-occupied dwellings with living quarters for no more than four families in total. The owner must actually live in one of those quarters. It does not authorize …
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 …