Real Estate terms starting with B

38 terms

"B" Loan or "B" Paper FICO scores from 620 - 659. Factors include two 30 day late mortgage payments and two to three 30 day late installment loan payments in the last 12 months.
"Bait-and-switch" schemes The lender may promise one type of loan or interest rate but, without good reason, gives you a different one.
Back End Ratio (debt ratio) A ratio that compares the total of all monthly debt payments (mortgage, real estate taxes and insurance, car loans, and other consumer loans) to gross…
Back to Back Escrow Arrangements that an owner makes to oversee the sale of one property and the purchase of another at the same time.
Balance Sheet A financial statement showing the nature and amount of a company's assets, liabilities and shareholders' equity.
Balloon Loan or Mortgage A mortgage that typically offers low rates for an initial period of time (usually 5, 7, or 10) years; after that time period elapses, the balance is due…
Balloon Mortgage With a balloon mortgage, you make monthly payments over the mortgage term, which is typically five, seven, or ten years, and a final installment, or…
Balloon note A loan calling for periodic payments which are insufficient to fully amortize the face amount of the note prior to maturity, so that a principal sum known…
Balloon Payment A mortgage with periodic installments of principal and interest that do not fully amortize the loan.
Baluster One of a series of short vertical posts, often ornamental, used to support a rail.
Balustrade A railing composed of balusters and a top rail running along the edge of a porch, balcony, roof, or stoop.
Banking Interior The area of the designated interior historically used for banking operations and any associated interior spaces including, without limitation, entrance…
Bankruptcy The legal proceedings by which the affairs of a bankrupt person are turned over to a trustee or receiver for administration under the bankruptcy laws.
Bay A regularly repeating division of a façade, marked by fenestration.
Bay Window A projecting form containing windows that rises from the ground or from some other support, such as a porch roof; see also oriel.
Before-Tax Income Income before taxes are deducted. Also known as "gross income."
Beneficiary A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract.
biweekly mortgage A loan requiring payments of principal and interest at two-week intervals. This type of loan amortizes much faster than monthly payment loans.
Biweekly Payment Mortgage A mortgage with payments due every two weeks (instead of monthly).
Blanket mortgage A single mortgage covering more than one parcel of real estate, such as a mortgage covering all the lots of a builder in a subdivision.
Block Plan A drawing of a building’s foot print within an entire block in simplified, non-detailed form
Bona fide In good faith, without fraud.
Bond A long-term debt instrument with the promise to pay a specified amount of interest and to return the principal amount on a specified maturity date.
Borrower A person who has been approved to receive a loan and is then obligated to repay it and any additional fees according to the loan terms.
Bracket A projecting angled or curved form used as a support, found in conjunction with balconies, lintels, pediments, cornices, etc.
Bracket Sign A rigid outdoor sign, with two display faces, installed perpendicular to a building facade and hanging from an armature, used as an announcement for an…
Branch Office For banks and thrifts, a branch office is an office approved as a branch by a supervisory agency.
Brick Molding A milled wood trim piece covering the gap between the window frame and masonry, which can be rectilinear, curved, or composite-curved.
Bridge Loan A short-term loan secured by the borrower's current home (which is usually for sale) that allows the proceeds to be used for building or closing on a new…
Broker An agent who handles the public's orders to buy and sell securities, commodities or other property. A commission is generally charged for this service.
Budget A budget is a plan on how much to save each week or month to make a purchase or to reach a savings goal.
Building Code Local regulations that set forth the standards and requirements for the construction, maintenance and occupancy of buildings.
Building Plan A drawing that shows a horizontal view
Building Streetwall The predominant plane of the building facade at the level of the storefront.
Bulkhead The part of a storefront that forms a base for one or more display windows
Buy Down When you make an up-front cash payment to reduce your monthly payments on a mortgage loan, it's called a buy down.
Buydown An arrangement whereby the property developer or another third party provides an interest subsidy to reduce the borrower's monthly payments typically in…
Buydown Account An account in which funds are held so that they can be applied as part of the monthly mortgage payment as each payment comes due during the period that an…