A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

U

Underwriting

The process of evaluating a loan application to determine the risk involved for the lender. Underwriting involves an analysis of the borrower's creditworthiness and the quality of the property itself.

Unsecured Loan

A loan that is not backed by collateral.

Upzoning

The process in which a property is zoned from a lower to a higher use.

V

VA Mortgage

A mortgage that is guaranteed by the Department of Veterans Affairs (VA). Also known as a government mortgage.

Variable Rate

An interest rate that changes with fluctuations in such indexes as the U.S. Treasury bill index.

Variable Rate Mortgage (VRM)

A loan with an interest rate that hinges on factors such as the rate paid on bank certificates and Treasury bills.

W

Wraparound Mortgage

A loan given to a buyer for the remaining balance on a seller's first mortgage and an additional amount requested by the seller. Payments on both amounts are made to the lender who holds the wraparound loan.

Y

Yield

Return on investment.

Z

Zero-Lot Line

The positioning of a house near or on top of the lot boundary, resulting in little or no space between houses.

Zoning

The acts of an authorized local government establishing building codes, and setting forth regulations for property land usage.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z