Real Estate Term of the Day: Flood Insurance

Real Estate Term of the Day: Flood Insurance FLOOD INSURANCE – an insurance policy that covers property damage due to natural flooding.  Flood insurance is offered by private insurers but is subsidized by the federal government (Barron’s Dictionary of Real Estate Terms) When you purchase your home, your lender will always require a flood certificate … More Real Estate Term of the Day: Flood Insurance

Real Estate Term of the Day: Fixed-Rate Mortgage

Real Estate Term of the Day: Fixed-Rate Mortgage FIXED-RATE MORTGAGE – a loan secured by real property featuring an interest rate that is constant for the entire term of the loan (Barron’s Dictionary of Real Estate Terms) Contrast to: ADJUSTABLE RATE MORTGAGE (ARM) When financing a new home, it is key that you work with your … More Real Estate Term of the Day: Fixed-Rate Mortgage