BP Glossary in Spanish / Glosario en Español de BP (F-I)

Fair Housing Act

Fair Housing Act The Fair Housing Act prohibits discrimination in the supply of housing based on race, gender, religion, disability, and many other factors and identities.

Fair Market Value

Market Value (Fair Market Value) The market value determines the value of an asset. For example, the purchase price of a house.

FHA Loan

FHA Loan (FHA Loan) FHA loans are those that are linked to a mortgage guaranteed by the Federal Housing Administration, with the purpose of increasing home ownership among low-to-moderate income individuals.

Fixed Rate Mortgage

Fixed Rate Mortgage A fixed rate mortgage maintains an interest rate that does not vary over the term of the loan.

For Sale By Owner (FSBO)

For Sale by Owner (FSBO) For Sale by Owner (FSBO) is a real estate transaction in which the property owner chooses not to hire the services of a real estate agent and instead sells the property. owned by yourself.

Foreclosure

Execution of Guarantee (Foreclosure). The security foreclosure is the legal process by which a creditor or lender takes the property of a debtor or borrower when the debtor defaults on his commitment to pay his loan.

Fractional Ownership

Fractional Ownership (Fractional Ownership) Fractional Ownership consists of two or more investors acquiring a property jointly.

Freddie mac

Federal Mortgage Loan Corporation. (Freddie Mac [Federal Home Loan Mortgage Corporation]). Freddie Mac, like Fannie Mae, is a federal mortgage company created by the Congress of the United States of America. Buy and guarantee mortgages through the secondary mortgage market.

Gentrification

Gentrification. (Gentrification]). Gentrification is a process by which an urban area is developed to change the level of demographic concentration of residents to one of higher income.

Ground Lease

Surface Occupation. (Ground Lease). Surface occupancy grants the tenant or surface landlord permission to develop a piece of land during the term of the contract.

Hard Money Loan

Hard Money Loan. (Hard Money Loan). The hard money loan is a short-term loan funded by private investors at higher interest rates than those offered by traditional banks. Generally, these types of loans are managed without many requirements and in a short time, sometimes in 48 hours.

HELOC

Home Equity Line of Credit. Federal Mortgage Loan Corporation. (HELOC [Home Equity Line of Credit]). A home equity line of credit is a loan that uses the equity in your home as collateral.

Home Inspection

Property Inspection. (Home Inspection). A property inspection consists of examining the property from foundation to ceiling and many other things in between. An inspection must be carried out objectively.

Home Warranty

Property Guarantee. (Home Warranty). A property warranty (not to be confused with a property warranty) covers the repair and replacement of household items and systems, such as water heaters, plumbing, and air conditioners.

Housing Starts

Beginning of Housing. (Housing Starts). Housing starts indicates the number of new housing construction projects that start each month.

Inflation

Inflation. (Inflation). Inflation is the sustained increase in the average prices of goods and services over time. Inflation reduces the purchasing power of legal tender.

Ingress

Access (or right of way). (Ingress). Access allows legal passage to the owner of a property that is surrounded by other properties through a private road or pass access.

Interest

Interest. (Interest). Interest rates determine how much it costs to borrow money when you buy a home, for example; or what return you will receive for your investment.

Intestate

Intestate. (Intestate). When someone dies intestate it means that they pass away without leaving a valid will. As a result, your estate enters a process called intestate succession.