Real estate license wizard Flashcards

Real estate license wizard Flashcards Mill ratethe amount of tax payable per dollar of the assessed value of a property figure that represents the amount per $1,000 of the assessed value of the property rate for your property is determined by who or what is taxing you Ad valoremA tax whose amount is based on the value of the property "according to value" Market Valuethe price at which property would sell EquityThe amount of money you would receive after paying off the mortgage if you were to sell the home EscrowThe deposit of funds with a neutral third party who is instructed to carry out the provisions of an agreement.Gross Rent Multiplieranalysis of rental income, used roughly in sales comparison approach Market Value / Annual Gross Income = Lender's marginAn amount added to the index rate on a adjustable mortgage Discount PointsFees paid to decrease the mortgage rate when buying or refinancing a house.Freddie MacGinnie Mae Farmer MacFannie Mae capitalization rateUsed to indicate the rate of return that is expected to be generated on a property