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Refinancing

Obtaining a different loan for the benefit of perhaps a lower interest rate, converting an ARM to a fixed rate, or to take out some of the equity in the property. The borrower re-applies for a mortgage and goes through another closing transaction on the property they have previously mortgaged. The new loan pays off and replaces the original loan.

See also:
  • Radon
  • Rate Lock
  • Real Estate Agent
  • Real Estate Commission
  • Real Estate Investment Trust
  • Real Estate Owned
  • Real Estate Settlement Procedures Act
  • Realtor
  • Refinancing
  • REIT
  • Rent with option to buy
  • REO
  • Reserves
  • RESPA
  • Restrictions
  • Return On Investment
  • Right of first refusal
  • Right of redemption
  • ROI
  • Rule of 72
  • Rural Development Loan

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