Real Estate definitions beginning with C

Callable Debt - permalink - collapse

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A debt security whose issuer has the right to redeem the security at a specified price on or after a specified date, but prior to its stated final maturity.
US Department of Housing and Urban Development - Cite This Source - This Definition
Browse Related Terms: Interest-only loan, Intermediate Term Mortgage, Maturity, Maturity Date, Medium Term Notes

Cap - permalink - collapse

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A limit placed on adjustments in adjustable rate mortgages to protect the borrower from large increases in the interest rate or the payment level.
U.S. Census Bureau - Cite This Source - This Definition
A limit, such as one placed on an adjustable rate mortgage, on how much a monthly payment or interest rate can increase or decrease, either at each adjustment period or during the life of the mortgage. Payment caps do not limit the amount of interest the lender is earning, so they may cause negative amortization.
US Department of Housing and Urban Development - Cite This Source - This Definition
A limit in how much an adjustable rate mortgage's monthly payment or interest rate can increase. A cap is meant to protect the borrower from large increases and may be a payment cap, an interest cap, a life-of-loan cap or an annual cap. A payment cap is a limit on the monthly payment. An interest cap is a limit on the amount of the interest rate. A life-of-loan cap restricts the amount the interest rate can increase over the entire term of the loan. An annual cap limits the amount the interest rate can increase over a twelve-month period.
Ginnie Mae - Cite This Source - This Definition
For an adjustable-rate mortgage (ARM), a limitation on the amount the interest rate or mortgage payments may increase or decrease. See also "Lifetime Payment Cap," "Lifetime Rate Cap," "Periodic Payment Cap," and "Periodic Rate Cap"
Federal Trade Commission - Cite This Source - This Definition
Browse Related Terms: annual cap, interest cap, Interest Rate Cap, Life Cap, life-of-loan cap, Lifetime Cap, Payment Cap, Rate Cap

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Capacity - permalink - collapse

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The ability to make mortgage payments on time, dependant on assets and the amount of income each month after paying housing costs, debts and other obligations.
US Department of Housing and Urban Development - Cite This Source - This Definition
Your ability to make your mortgage payments on time. This depends on your income and income stability (job history and security), your assets and savings, and the amount of your income each month that is left over after you've paid for your housing costs, debts and other obligations.
Federal Trade Commission - Cite This Source - This Definition
Browse Related Terms: Liquid asset, liquidity, Nonliquid Asset, Nonperforming Asset

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Capital Gain - permalink - collapse

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The profit received based on the difference of the original purchase price and the total sale price.
US Department of Housing and Urban Development - Cite This Source - This Definition
Browse Related Terms: As-is Condition, Back to Back Escrow, Finance company, Rehabilitation Mortgage, Rescission, Right of rescission

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When a borrower refinances a mortgage at a higher principal amount to get additional money. Usually this occurs when the property has appreciated in value. For example, if a home has a current value of $100,000 and an outstanding mortgage of $60,000, the owner could refinance $80,000 and have additional $20,000 in cash.
US Department of Housing and Urban Development - Cite This Source - This Definition
A refinance transaction in which the borrower receives additional funds over and above the amount needed to repay the existing mortgage, closing costs, points, and any subordinate liens.
Federal Trade Commission - Cite This Source - This Definition
Browse Related Terms: Cash, cash-out refinancing, Cash Reserves, Down payment, No Cash Out Refinance, Refinance, Refinancing

cash-out refinancing - permalink - collapse

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When refinancing, taking a loan for more than you owe on your existing mortgage. Your existing mortgage is paid off and you receive an additional payment for the balance of the new loan. You might do this if you want to make home improvements or pay for a child's education. Cash-out refinancing removes some of the equity you have built up in your home.
The Federal Reserve Board - Cite This Source - This Definition
Browse Related Terms: Cash, Cash-out Refinance, Cash Reserves, Down payment, No Cash Out Refinance, Refinance, Refinancing

Cash Reserves - permalink - collapse

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A cash amount sometimes required of the buyer to be held in reserve in addition to the down payment and closing costs; the amount is determined by the lender.
US Department of Housing and Urban Development - Cite This Source - This Definition
Browse Related Terms: Cash, Cash-out Refinance, cash-out refinancing, Down payment, No Cash Out Refinance, Refinance, Refinancing

Casualty Protection - permalink - collapse

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Property insurance that covers any damage to the home and personal property either inside or outside the home.
US Department of Housing and Urban Development - Cite This Source - This Definition
Browse Related Terms: Deductible, Disclosures, Fire insurance, Flood Insurance, Hazard Insurance, Home Warranty, Homeowner's insurance, Insurance, Liability Insurance, Mortgage Life Insurance, Owner's Policy, Perils, Property insurance, Rollover, Title insurance

Certificate of deposit - permalink - collapse

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A document issued by a bank or other financial institution that is evidence of a deposit, with the issuer's promise to return the deposit plus earnings at a specified interest rate within a specified time period.
Federal Trade Commission - Cite This Source - This Definition
Browse Related Terms: Interest Rate Swap, Mortgage Note, note, Note Rate, Promissory Note, Terms, Truth in lending