- Metes And BoundsDescribing boundaries by using courses, directions, distances and monuments. Read More
- Mezzanine DebtA loan often used by developers to secure supplementary financing for development projects. These loans are often secured by a lien subordinate(...) Read More
- MicrolamA manufactured structural wood beam. It is constructed of pressure and adhesive bonded wood strands of wood. They have a higher strength rating(...) Read More
- Mid-Century ModernA design from the 1930s to the 1960s that was characterized by clean, organic forms, and lack of embellishment. Read More
- Milar (Mylar)Plastic, transparent copies of a blueprint. Read More
- MillworkAny wood-mill produced materials that typically include molding, doors, and trim. Read More
- Mini SplitHeating and cooling system that allows for controlled heat and cooling in each room. Read More
- MinipermShort-term permanent financing, usually 3 to 5 years. Read More
- MiterA joint formed by beveling the edges or ends of two pieces of material, fitted together at an angle. Read More
- Miter JointA perpendicular joint that is made by cutting two pieces of material are cut and joining them at a 45-degree angle. Read More
- Mixed-Use BuildingA mixed-use building or development is a property that’s been zoned for more than one purpose, such as residential and commercial, or office and(...) Read More
- Mixed-Use DevelopmentA mixed-use building or development is a property that’s been zoned for more than one purpose, such as residential and commercial, or office and(...) Read More
- ModificationAny change to the terms of a mortgage loan, including changes to the interest rate, loan balance, or loan term. Read More
- MoldingA material composed of wood, plastic, or stone that is used as a decorative frame. Read More
- Monolithic SlabA single slab foundation for a house that incorporates footings at its edge without any joints. Read More
- MonopostAdjustable metal column used to support a beam or bearing point. Normally 11 gauge or Schedule 40 metal, and determined by the structural engineer Read More
- Monthly RentAn estimate of what a property could rent for monthly. This can relate to a single-family home, apartment, condo, or even a room within one of(...) Read More
- MortarA material used to bind various types of stone. Read More
- MortgageA temporary conditional pledge of property to a creditor as security for the payment of a debt that may be cancelled by payment. Read More
- Mortgage BankerAn individual or company that originates and/or services mortgage loans. Read More
- Mortgage BrokerAn individual or firm that brings borrowers and lenders together for the purpose of loan origination. A mortgage broker typically takes loan(...) Read More
- Mortgage-BrokerA process by which a lender uses another party to completely or partially originate, process, underwrite, close, fund, or package a mortgage loan. Read More
- Mortgage ContingencyA loan contingency is a clause or addendum in an offer contract that allows a buyer to back out of a deal and keep their deposit if they are(...) Read More
- Mortgage Debt ServiceThe amount of money required to cover a mortgage’s principal payments, interest payments, and any credit enhancement costs such as FHA mortgage(...) Read More
- Mortgage InsuranceInsurance that protects lenders against losses caused by a borrower’s default on a mortgage loan. MI typically is required if the borrower’s(...) Read More
- Mortgage-InsuranceInsurance for conventional mortgage loans that protects the lender from loss in the event of default by the borrower. The type of insurance(...) Read More
- Mortgage Insurance PremiumThe amount paid by a borrower for mortgage insurance, either to a government agency such as the Federal Housing Administration (FHA) or to a(...) Read More
- Mortgage LenderThe lender providing funds for a mortgage. Lenders also manage the credit and financial information review, the property and the loan(...) Read More
- Mortgage Life InsuranceA type of insurance that will pay off a mortgage if the borrower dies while the loan is outstanding; a form of credit life insurance. Read More
- Mortgage LoanA loan for which real estate serves as collateral to provide for repayment in case of default. Read More
- Mortgage NoteA written promise to pay a sum of money at a stated interest rate during a specified term. The note contains a complete description of the(...) Read More
- Mortgage RateThe interest rate you pay to borrow the money to buy your house. Read More
- Mortgage ServicerThe entity responsible to collect payments and pass them on to investors, tax authorities, and insurers, often through escrow accounts.(...) Read More
- Mortgage TermThe length of time given to repay the loan. Read More
- MortgageeThe institution or individual to whom a mortgage is given. Read More
- MortgagorThe owner of real estate who pledges property as security for the repayment of a debt; the borrower. Read More
- MortiseA slot cut into a board, plank, or timber, usually edgewise, to receive the tenon (or tongue) of another board, plank, or timber to form a joint. Read More
- Motivated SellersInvestors are attracted to homeowners who are motivated to sell, as it presents the opportunity for negotiating a favorable purchase price.(...) Read More
- MudA highly extended paste used to make a continuous seam between pieces of wallboard (drywall, sheetrock), or used to repair cracks, holes, and(...) Read More
- Mud RoomA dedicated space in the home, typically found at the front or back door, where footwear and outerwear can be removed. Read More
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