![]() ![]() Typical adjustment intervals are 6 months and one year.ĪMENITIES – in appraisal, the non–monetary benefits derived from property ownership.ĪMORTIZATION PERIOD the period or length of time over which the principal portion of a mortgage loan is scheduled to be paid down through periodic payments.ĪNCHORED – a piece of commercial real estate property, which will serve as the main tenant in a shopping center.ĪNCHORS – all long term, credit worthy tenants.ĪPPRAISAL – an estimate of the value of a property, made by a qualified professional called an appraiser.ĪSSISTED LIVING – type of senior housing that is typified by independent living and limited assistance to its renters.ĪSSUMABILITY – a mortgage loan which can be transferred to another person without a change in the terms of the loan.ĪVAILABLE SF – the square feet available for lease.ĪVERAGE ANNUAL OCCUPANCY – percentage of currently rented units in a building, city, neighborhood or complex.ĪVERAGE DAILY RATE – a hotel rate used to evaluate the average daily rate of a hotel inclusive of vacancy and seasonality.īALLOON PAYMENT – one large payment for the remaining principal balance of a mortgage, due at a time specified in the contract.īASIS POINT (BP) – 1/100th of 1expressed as a margin over an index rate.īORROWING ENTITY TYPE – the legal form under which property is owned.īRIDGE/SHORT TERM LOAN – a short–term or interim loan for borrowers who need more time to find permanent financing or are repositioning a commercial property.īUILDING PERMIT – a document, issued by government regulatory authority that allows a builder to construct or modify a structure.īUILDING SF – the usable square footage of the building.ĬAP – the maximum, which an adjustable–rate mortgage may increase, regardless of index changes. The initial interest rate is lower than that of fixed–rate mortgages, but monthly payments can go up or down as the rate is adjusted.ĪDJUSTMENT INTERVAL – the period of time between changes in the interest rate for an adjustable–rate mortgage. Commercial and Residential Hard Money Loans Mortgage Investment TerminologyĪCREAGE – a 2 dimensional measure of land equaling 160 square rods, 10 square chains, 4,840 square yards, or 43,560 square feet.ĪDJUSTABLE RATE MORTGAGE – a mortgage with an interest rate that changes periodically, according to an index that is selected when the mortgage is issued.
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