- Total Operating ExpensesThe sum of all operating costs, not including interest, depreciation, and amortization. Read More
- Total PaymentsThis is the total amount paid over the life of the loan for principal, interest and prepaid finance charges, assuming the loan is kept to(...) Read More
- Total ReturnAn annualized return for equity investments that includes cash distributions, appreciation, financing percent, and overall expenses. Read More
- TownhouseA house of usually two or three stories that connects to matching houses by a shared wall. Read More
- Trade EquityReal estate or assets given to the seller as part of the down payment for the property. Read More
- Trade LinesTrade lines are different credit accounts listed on a credit report. Read More
- TradespeoplePeople who specialize in a skilled trade, such as roofing, tile, or electrical work. These folks are usually hired as subcontractors on projects. Read More
- Traditional LenderTraditional lenders typically provide long-term loans with lower interest rates, and the lenders are usually financial institutions such as(...) Read More
- Traditional MortgageAlso known as a conventional mortgage, a type of mortgage loan not insured or guaranteed by the federal government and are available through(...) Read More
- Trans UnionOne of the three largest credit bureaus in the United States. Read More
- Transactional FundingA form of short term, hard money lending, which allows a wholesaler the opportunity to purchase a property with none of his/her funds, provided(...) Read More
- Transfer TaxState or local tax payable when title to property passes from one owner to another. Read More
- Transmitter (Garage Door)The small, push button device that causes the garage door to open or close. Read More
- Transom WindowA window that is placed above a doorway. Read More
- TransUnionOne of the three major credit bureaus in the US. See Credit Reporting Bureau. Read More
- TrapA plumbing fitting that holds water to prevent air, gas, and vermin from backing up into a fixture. Read More
- TreadThe horizontal piece of a step. Read More
- TreadsThe top surface portion of a stair step where a person walks. Read More
- Treasury IndexAn index that is used to determine interest rate changes for certain adjustable-rate mortgage (ARM) plans. It is based on the results of(...) Read More
- Treated LumberA wood product which has been impregnated with chemical pesticides such as CCA (Chromated Copper Arsenate) to reduce damage from wood rot or(...) Read More
- TrimThis finishing element includes moldings for interior rooms and exteriors, as well as windows, doors, and shutters. Read More
- Trim (Plumbing, Heating, Electrical)The work that the "mechanical" contractors perform to finish their respective aspects of work, and when the home is nearing completion and occupancy. Read More
- TrimmerThe vertical stud that supports a header at a door, window, or other opening. Read More
- Triple - Net LeaseA lease that requires the tenant to pay for property taxes, insurance, and maintenance in addition to the rent. Read More
- Triple-Net LeaseA lease that requires the tenant to pay for property taxes, insurance, and maintenance in addition to the rent. Read More
- TrussAn assembly of beams arranged into connected triangles so the structure acts as a single object. Read More
- Truss ChordThe horizontal bottom member of a truss that creates the ceiling on the interior of a structure. Read More
- Trust SaleA situation where a property is offered for sale by the trustee of a living trust and not by a private party. Read More
- Truth-In-Lending ActA federal law requiring the disclosure of credit terms using a standard format and includes a summary of the total cost of credit, such as the(...) Read More
- Tub TrapCurved, "U" shaped section of a bath tub drain pipe that holds a water seal to prevent sewer gasses from entering the home through tubs water drain. Read More
- Tube & Knob WiringA common type of electrical wiring used prior to World War II. Suitable for small fixtures or electrical appliances that have low amperage(...) Read More
- Turn Key PropertyA residential real estate property that requires no urgent investments by the buyer and can immediately be rented out after purchase. Read More
- Turnkey PropertyA residential real estate property that requires no urgent investments by the buyer and can immediately be rented out after purchase. Read More
- TurpentineA petroleum, volatile oil used as a thinner in paints and as a solvent in varnishes Read More
- U.S. Department of Veterans AffairsA federal government agency that provides benefits to veterans and their dependents, including health care, educational assistance, financial(...) Read More
- U-ValueThe measurement of how much heat is being transmitted through a wall or window; a lower U-value means a more energy-efficient window. Read More
- Under Cabinet LightsLights that mount on the underside of wall cabinets to illuminate the countertop are referred to as under-cabinet lights. The fixtures can be(...) Read More
- Under ContractWhen a seller accepts an offer on their home, the home goes under contract, meaning the sale is not guaranteed until all the contingencies are met. Read More
- UndercoatA layer of paint applied before the topcoat. Read More
- UnderlaymentA material placed between the under flooring and finished flooring that creates protects a smooth and even surface. Read More
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